Daily Investment Interpretations
August 26, 2011
Market indices rose somewhat today: The rally before the storm.
Composite moved up a respectable
60.02 points (2.49%) to
close at 2,479.85.
The Dow uptilted 134.72
at 11,284.54; the S&P 500 regained 17.53
to settle at 1,176.80. Oil rose to $85.14: Oil price forecasts cut on global slowdown fears;
gold collapsed to 1,784: Gold ends higher.
The VIX fell 4.17
points to 35.59.
Fed Chairman Bernanke announced today that the Fed would punt on financial changes until the September meeting: Easing: See you in Sept.?, Speech excerpts on economy, Congress, policy. This was evidently comforting to the markets in spite of the fact that U.S. economic weakness accelerates and U.S. second-quarter growth revised lower.
Aug. consumer sentiment revised higher
Zandi: Too close for comfort on recession
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