Daily Investment Interpretations
September 29, 2011
The markets closed up today except for the NASDAQ: 'W' is for volatility, Wild Day Produces Rebound for Bulls.
Alone among the indices, the NASDAQ Composite gave up 10.82 points (-0.43%) to close at 2,480.76. The Dow annnexed 143.06 points (1.3%) to close at 11,153.98; the S&P 500 added 9.34 points (0.81%) to settle at 1,160.40. Oil jumped to $82.96; gold rose slightly to 1,626: Gold ends down; silver tips higher. The VIX hopped down 2.24 points to 38.84.
There was some good news today:
U.S. GDP Higher Than Expected; Shows No Signs of Recession,
Weekly Jobless Claims Finally See Improvement,
Bernanke Says More Easing On Way - If Inflation Falls, and
Pending Home Sales Fall But Above Expectations..
The only bit of bad news of which I'm aware is Bloomberg Consumer Comfort Index Continues Lower and Japan's PMI Data Also Moves Below Key 50-Level.
Among other news items are:
Treasury sells 7-year at record-low yield
30-year loan at record low
Gold's gift to investors: its retreat
How long can the market hold its breath? The author expects the markets to put in their annual lows in October, followed by a year-end rally.
What precious-metals charts say The author concludes that gold and silver are probably at or near their bottoms.
Market futures are flat tonight.