Daily Investment Interpretations
Thursday, April 26, 2012
(Thursday Night): All
three indices closed up again today: Blue chips up triple digits;
Stocks gain as 'stimulus addicts' look for a fix.
The NASDAQ Composite exploded 20.98
to end at 3,050.61. The Dow advanced
to close at 13,204.62; the S&P 500
popped 9.29 points
to settle at 1,399.98. Oil rose to 104.13: Oil ends 0.4% higher; natural gas turns lower;
gold ended at 1657: Gold rallies 1.1% on weakened dollar, Fed. The VIX
"Better-than-expected data on housing and an upbeat forecast from software firm Citrix help U.S. stock market overcome disappointing jobless claims. Dow industrials up 1% as gains expand after midday."
The markets broke upward out of their recent trading ranges today (although they could certainly turn around and go south tomorrow).
Q1 GDP report to show economy 'plugging along' "Last quarter of 2011 and first quarter of 2012 may mark the best period of back-to-back growth in two years, but economists aren’t getting too excited."
U.S. jobless claims remain elevated
Kevin Marder discusses: Lock in gains or let winners ride?
Pending home sales hit a 23-month high
.Home prices bottoming in these 19 markets
At Goldman, it's about the money "A laserlike focus on the bottom line has allowed the board at Goldman Sachs to over look a litany of transgressions that would have derailed others."
State of the Markets articles include:
Today I'm From Missouri "Good Morning. Fool me once, shame on you. But fool me twice... Well, that's the stuff that trading ranges are made of. As I've mentioned a time or twenty over the past couple of weeks, I'm of the mind that the stock market is stuck in a consolidation phase. And unless the bulls can get their act together in a big way, I'd also be willing to bet that this sloppy period of back-and-forth action may continue for a while. However, I am a firm believer in the idea of staying in tune with what the market IS doing (as opposed to what I think ... Read More »"
Spain's Credit Rating Dropped Two Notches by S&P "Just when you thought the bulls might have gotten their mojo back, Standard & Poors found something else to downgrade - and not by a small amount. S&P hit Spain for a two notch downgrade... ... Read More »"
Looking Ahead to Friday's Market
The Dueling Forecasts (For GDP, That Is)
Pending Home Sales Suggest Housing Market Has Turned Corner
Bloomberg Consumer Comfort Index Sags Further
Trend of Weekly Jobless Claims Moving Up
China To Lend $10 Billion To Europe For Infrastructure Projects
Market futures are somewhat lower tonight.