Daily Investment Interpretations

July 29, 2011

2011-7-29: (Friday Night):  The markets plunged again today:.Worst Dow week in a year, Senate rejects House plan. The NASDAQ Composite fell 9.87 points (-0.36 ) to end the day at  2,756.38. The Dow dropped another 96.87 points (-0.79%) to close at 12,123.24; the S&P 500 gave way 8.39 points (-0.32%) to settle at 1,292.28. Oil closed down at $95.86; gold climbed to 1,629: Gold settles at record as GDP disappoints. The VIX climbed to 25.25.  
   
Stock fortunes hinge on debt, and then jobs..
    TopStock Portfolios had this opening analysis by David Moenning: Where Is The Leadership?, followed byTechnical Talk: Computers Don't Care About Trendlines, 4-D Debate Update: House Passes Boehner's Bill; Senate Rejects Plan
, University of Michigan Sentiment Also Down in July, Chicago PMI Report Also Below Expectations, GDP in U.S. Continues Weak in 2nd Quarter, A Closer Look At GDP (And the Headlines), and Underground Trader: A Quick Look At the Futures.           
    Meanwhile, there's Banks seek guidance on bonds in default scenario. Mark Hulbert reports that Insiders selling at unusually fast pace.
    The economy's growth rate was adjusted downward sharply today, suggesting an impending recession.