Daily Investment Interpretations
January 23, 2011
(Monday Night): The
markets closed mixed again today (basically unchanged): Traders
take some cash out, Mixed
Euro News Stalls Rally Ahead of Eventful Week. The NASDAQ Composite
to 2,784.17. The Dow slipped 11.86
the S&P 500 added a scant 0.62 points
to settle at 1,316.00. Oil slipped to 99.70: Crude
up after Iran embargo; gold rose
to 1677: Gold
hits six-week high. The VIX dropped 0.39
points to 18.67.
One key event today was that IMF's Lagarde warns of ‘1930s moment’. She's urging the European leadership to enlarge the value of the IMF bailout fund or face a repetition of the Great Depression.
GDP report coming The fourth quarter GDP report is expected to be stronger than has been previously forecast, although the first-quarter, 2012, GDP number may be somewhat lower than last year's fourth-quarter number.
Behind the GOP attacks on the Fed
No Fed rate hike until July 2014?
Five moves from Mark Mobius
David Marsh reiterates his forecast that Greece will be forced to exit the Euro: Germans stick to their plan for euro stability.
EU clears the way for clampdown on Iranian oil imports
State of the Markets articles include:
Technical Talk: Bulls Welcome A Pullback
Germany Changes Tune on Increasing Size of Eurozone Bailout Funds
The State of the Debt Restructuring Deal in Greece
Germans stick to their plan for euro stability
Meanwhile, "Felix Zulauf, president of Zulauf Asset Management in Zug, Switzerland, tells Michael Santoli at the 2012 Barron's Roundtable conference that Europe's recession will deepen this year as some countries likely leave the common currency."
Market futures are down a bit tonight.