Daily Investment Interpretations

August 26, 2011

2011-8-26: (Friday Night): Market indices rose somewhat today: The rally before the storm. The NASDAQ Composite moved up a respectable 60.02 points (2.49%) to close at 2,479.85. The Dow uptilted 134.72 points (1.21%) to close at 11,284.54; the S&P 500 regained 17.53 points (1.51%) 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  
    5 triggers to launch the next bull market