Daily Investment Interpretations

February 29, 2011

2012-2-29: (Wednesday Night): The markets retreated somewhat today today: Dow reclaims 13,000; Stocks Lower on Dampened Expectations for Further Easing, Falling Euro. The NASDAQ Composite declined 19.87 (-0.67%) to 2,966.89. The Dow fell 53.85 points (-0.41% to 12,952.07; the S&P 500 lost 6.5 points (-0.47%) to settle at 1,365.68. Oil fell back to 106.87: Oil gains 9% in Feb; gold dove to 1698: Gold tumbles on Fed talk. The VIX fell 0.47 to 18.43.
    The markets are continuing to slowly work their way up. 

    Marketwatch says: 
    Matthew Lynn observes that Central banks provide, oil markets take away.
    Rex Nutting writes:Economy still hobbled by housing, high debts.  
    Mark Hulbert explains Why it took the Dow so long to eclipse 13K.  
    Al Lewis writes Grantham wonders if Marx was right after all.
    Irwin Kellner notes that
As the song says, Greece is the word
    Greece eyes EU funds for short-term growth 
    Bernanke: Fed's getting mixed signals
    ECB allots $713.4 bln  
    Europe’s LTRO rally may have legs  

    State of the Markets articles include:   
    ECB's LTRO Sees Banks Borrow Record Amounts of 3-Year Funds 
    U.S. GDP Revised Higher For Fourth Quarter  
    Economic Update: Fed's Beige Book      
    Highlights From Bernanke Testimony  
    Chicago PMI Comes In Above Expectations  
    It's About Confidence 
      
    Market futures are neutral tonight.