Daily Investment Interpretations
June 22, 2011
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
to 2,669.19. The Dow retreated 80.34
to close at 12,109.67;
the S&P 500 slid 8.38
to end at 1,287.14. Oil inched up again to $94.16 (FTC
probes oil, gasoline); Gold rose to $1,557. The VIX
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 ¼ % tonight.