Daily Investment Interpretations
February 22, 2011
(Wednesday Night): The
markets ended the day modestly lower: Stocks stay close to highs;
Stocks Stall at Dow 13,000. The NASDAQ Composite
to 2,933.17. The Dow drifted
the S&P 500 lost 4.55 points
to settle at 1,357.66. Oil ended unchanged at 106.10: Oil at highest since May 4; gold
moved slightly higher to close at to 1779: Gold at 3-month high.
The VIX was unchanged at 18.23.
The markets marked time today (but the price of oil is continuing to ratchet upward).
Greek deal fails to dispel growth worries "Rising fears that added layers of austerity will undercut growth threaten to overshadow investor relief over pact."
Greek bailout not the rescue it seems: Darrell Delamaide
Dr. Irwin Kellner warns that Oil prices could derail recovery.
Heading off $5-a-gallon gasoline
Existing-home sales rise
S&P sees foreclosure inventory improving
Transports sending false signal:
Technical Indicator: Dow 13,000 under siege.
Matthew Lynn tries to interpret what's going on in Europe in terms of game theory: Game theory shows crisis could end badly.
PMI fans recession fears "Business activity across the euro area contracts unexpectedly, raising recession concerns."
Pressure back on Italian bonds' yields
State of the Markets articles include:
Technical Talk: Time To Take a Break?
Eurozone Flash Purchasing Managers' Index Weak; Suggests Region May Slip Into Recession
Existing Home Sales Up Again in January; Inventory Falling
Investor's Intelligence Data Shows Bullish Sentiment Falls
Fitch Downgrades Greece's Bond Issuer Rating
Eurozone Industrial New Orders Above Consensus
China's Flash PMI Shows Growth Slowed For Fourth Consecutive Month
Market futures are flat again tonight.