Daily Investment Interpretations

December 15, 2011

2011-12-15: (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 points (0.07%) to close at 2,541.01. The Dow added 45,.33 points (0.38%) to 11,868.81; the S&P 500 moved up 3.93 points (0.32%) 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.