Daily Investment Interpretations
December 15, 2011
(Thursday Night): The
markets rose a trifle today on good domestic news: Stocks
close up, off highs: U.S.
Sees Strong Data; Bulls Unable To Capitalize. The NASDAQ Composite
gained a measly 1.7
to close at 2,541.01. The Dow added 45,.33
the S&P 500 moved up 3.93 points
to settle at 1,215.75. Oil retreated to 93.92: Oil
settles lower as relief buying fizzles: gold closed at 1,582: Gold
drops, money-market funds swell. The VIX lost 0.93
points to 25.11.
Foreign banks borrow $54 billion through Fed
Damp market grows damper "Weakness is seen as a positive, as it will force the hand of weaker holders, hastening the cleanout of a market that still contains some excesses."
Fitch downgrades ratings on six banks
Wall Street too keen on more QE? This article suggests that the markets have already priced in the effects of further quantitative easing, but argues that this may be too soon.
Rex Nutting asks, Is the government lying about economy? He concludes that it's not because the economic data is inimical to the current administration.
Jobless claims drop "The number of Americans filing for unemployment benefits at lowest level since May 2008."
Mortgage rates drop back to record lows
Iraq war serves as a $4 trillion IOU
Europe faces a long slog in debt crisis
Peter Brimelow asks, Are the bears vindicated?
State of the Markets articles include:
IMF Chief Lagarde: Global Economic Outlook "Gloomy"
Philly Fed Business Outlook Improves; Above Expectations
U.S. Foreclosures Drop 14% Over Past Year; Lowest Rate in 3 Years
Bloomberg Consumer Comfort Index Shows Modest Improvement
Industrial Production and Capacity Utilization Update
Flipping The Switch
Empire Manufacturing Report Shows Solid Improvement in December
Producer Price Index Up +0.3% in November
Weekly Jobless Claims Continue To Improve; Fall 19K
Spain Sees Rates Fall at Latest 5-Year Bond Auction
Eurozone PMI's Improve But Show Contraction Continues
Market futures are up modestly tonight.