Daily Investment Interpretations

June 22, 2011

2011-6-22 (Wednesday Night): After four consecutive advances, the market averages fell today: Bernanke bums out bulls, Stocks end down after Fed comments on economy. The NASDAQ Composite retrenched 18.07 points (-0.67%) to 2,669.19. The Dow retreated 80.34 points (-0.66%) to close at 12,109.67; the S&P 500 slid 8.38 points (-0.65%) to end at 1,287.14. Oil inched up again to $94.16 (FTC probes oil, gasoline); Gold rose to $1,557. The VIX fell 0.34 to 18.52.
    Fed Chairman Bernanke is the heavy in today's market retreat: Bernanke offers sobering economic outlook, Street's worried but not Fed,, Bernanke: 'Years' before a return to full employment, and Asia slumps on Fed outlook.
    Mark Hulbert
suggests that the stock market is overvalued by historical standards: Stock-market history telling us two things
    Marketwatch's Matthew Lynn says, Forget economics, politics rules markets.
    Irwin Kellner writes: Jobs reach fork in the road.
    And Record corporate cash isn't necessarily bullish.
    Market futures are down about % tonight.