Daily Investment Interpretations
February 23, 2011
(Thursday Night): The
markets ended the day higher: S&P
nears 10-month high; Stocks
close higher on positive economic data. The NASDAQ Composite
to 2956.98. The Dow drifted down 46.02
the S&P 500 lost 5.6 points
to settle at 1,363.46. Oil leaped to 108.58: Crude
oil- $108 and rising; gold moved slightly higher to close at to 1781:
day for gold; more to come?. The VIX fell 1.39
The price of oil could derail the recovery: Price of gasoline could seal Obama’s fate. However, note Darrell Delamaide's observation that "At some point, higher oil impedes economic growth, but we’re nowhere near that yet." Both Darrell Delamaide and State of the Markets' David Moenning agree that fears of an economic implosion are presently behind us, and that a spring rally may be upon us.
More sell signals: Oil, transports
Jobs-recovery story intact
Republicans’ deficit card loses its appeal "The issues that Mitt Romney that gave him a chance to defeat Obama — the economy and deficit — are fading, writes Darrell Delamaide."
Trend is your friend, until it’s not "At some point, higher oil impedes economic growth, but we’re nowhere near that yet."
State of the Markets articles include:
Market Momentum Is Slowing (Here's Proof); Will Dow 13K Mark The End?
Fed Update: Fisher Says Economy Doing Better; Downplays Idea of More QE
FHFA House Price Index Better Than Expected in December
Bloomberg Consumer Comfort Continues to Improve
Remember, It's Not The News
Market futures are up ¼ % tonight.