Daily Investment Interpretations
August 25, 2011
Market indices retreated somewhat today: Stocks slide; Ben's on tap,
Buffet's Bet Not Enough, Stocks Fall.
Composite moved up a sedate
points (-1.95%) to
close at 2,419.63.
The Dow gave back 170.89
at 11,149.82; the S&P 500 ratcheted down 18.99
to settle at 1,159.27. Oil rose to $85.14:Oil higher ;
gold collapsed to 1,784: Gold ends higher.
The VIX rose 3.86
points to 39.76.
Tonight's big news is the Federal Reserve meeting in Jackson's Hole, Wyoming: At Jackson Hole, little support for QE3, Five questions Bernanke may answer, Brainstorming U.S. and global slowdowns, and Bernanke hopes defy hurricane force.
Kevin Marder sees the markets forming a bottom.
From State of the Markets, we have: UBS and Citigroup Downgrade Global Growth Expectations, Weekly Jobless Claims, Bloomberg Consumer Comfort Index Rises (A Little), Market Mover- Rumors of Debt Downgrade in Germany, Rating Agencies Reaffirm Germany's Debt Rating, Fed's Hoenig Says Chance Of Recession is Elevated, But, and Should We Laugh Or Should We Cry?.
Today's Technical Talk: Tough To Interpret.
Market futures are up about 0.4% tonight.