Daily Investment Interpretations

September 7, 2011

2011-9-8: (Thursday Night): The market indices slipped back a bit today Bernanke brings out bears, Stocks Pull Back As Bernanke Stays Mum . The NASDAQ Composite retreated 75.11 points (-0.78&) to close at 2,529.14. The Dow gave up 119.05 points (-1.04%) to close at 11,295.81; the S&P 500 declined 12.72 points (-1.06%) to settle at 1,185.90. Oil jumped to $89.44; gold jumped to 1,869: Gold ends the day lower. The VIX rose 0.84`points to 34.32..  
    Today's action revolved around Fed Chairman Bernanke's speech, and President Obama's anticipated speech tonight regarding fighting unemployment Obama to unveil 'substantial' package: Geithner: After rising earlier in the day, the markets fell after Fed Chairman Bernanke's speech: Bernanke Says Fed Stands Ready But Offers No Details. Ben Bernanke said essentially the same things he said at Jackson's Hole.
    The State of the Markets technical analysis, Technical Talk: Will History Repeat Exactly? Their conclusion? that the markets are still range-bound, and that only their market models can tell when it's safe to reinvest. 
    Consumer Credit Rises in July  
    Bloomberg Consumer Comfort Index Pulls Back  
    European Central Bank and Bank Of England Leave Rates Unchanged; Trichet To Speak
    Trichet Stays Course; Says Inflation Remains Elevated  Unlike the U. S. Federal Reserve which has the dual mandate of balancing unemployment against indlation, the European Central Bank has responsibility only for curbing inflation. (No wonder they're hawkish on monetary policy!)
    Weekly Jobless Claims Continue to Rise  
     Organization for Economic Cooperation and Development (OECS) Says Global Growth Has Come To Halt 
    Fitch May Downgrade China and Japan Next 
    Market futures are up modestly tonight.