Daily Investment Interpretations
July 13, 2011
(Wednesday Night): After
climbing vigorously on Fed Chairman Bernanke's hints at QE3: Fed weighing further easing, Bernanke says,
stocks fell back on news that Moody's warns Uncle Sam
to close modestly higher: Market
Wrap: Another Poor Finish. The NASDAQ
Composite advanced 15.01
points (0.54%) to 2,796.92. The Dow
climbed 44.73 points (0.36%)
at 12,491.61; the S&P 500 gained 4.08
to settle at 1,317.72. Oil rose to $97.57: Gold rises to record on debt-crisis fears
closing at 1,583. The VIX sidled up another 0.04
to close at 19.91.
There are some worrisome themes bedeviling the stock market: the game of chicken between the Democrats and the Republicans over lifting the debt ceiling, the never-ending degringoladé in European sovereign debt: Fitch Downgrades Greece, and the slowing global economy, to mention three of them.
Analysts see uptick for chips in second half
Paul Farrell has an insightful piece in War is hell, politics is hell, I’m mad as hell (or at least that's what I think). What's significant for me is the notion that the "military-industrial complex" President Eisenhower warned against is whirring away quietly, bleeding the economy for the benefit of the owners of the military-industrial complex.
Apparently Investors Intelligence Shows Sentiment Improving.
Here's a reassuring assessment from David Moenning: Our Summer of Discontent II. And here's a discussion of what's going on among the hedge funds: High-Frequency Trading Still Gumming Up The Works (On Purpose).
Market futures are down somewhat tonight.