Daily Investment Interpretations

Wednesday, May 10, 2012

2012-5-10: (Thursday Night): The markets fell sharply again today and once again partially recovered: Street's gains on the line; U.S. stocks end mixed amid Europe uncertainty. The NASDAQ Composite decreased 1.07 points (-0.04%) to end at 2,933.64. The Dow gained 19.98 points (0.16%) to close at  12,855.04; the S&P 500 added 3.41 points (0.25%) to settle at 1,357.99. Oil ended the day  at 96.74: Oil rebounds after six down sessions; gold ended at 1594 :Gold edges higher as European worries ease. The VIX dropped 1.25 to 18.83.
    "Stocks tumble on Europe fears, as the Dow's six-session losing streak makes it the longest since August 2011."
    "U.S. stocks bounced back somewhat from a sharp sell-off Wednesday, but all three major indexes closed in the red as investors continue to fret about Greece and Spain. More."
    
    Marketwatch says: 
    Jon Markman explains Why stocks are down; reasons for a rebound
    Kevin Marder points to A silver lining to the lower market trend
.   Darrell Delamaide says Fiscal cliff is Greek moment for the U.S 
    Muddling along fiscal cliff’s edge  
   
Jobless claims basically unchanged. "The number of people applying for unemployment benefits last week fell just a scant 1,000, suggesting little movement in what's been a slowly improving labor market."
    Bernanke says U.S. banks are healing.  
    Trade deficit surges 14% in March 
    Import prices drop 0.5% in April  
    U.S. posts first budget surplus since 2008
    China's inflation eases up.  
    J.P. Morgan shows why we need Volcker Rule  "The almost incredible losses reported by J.P. Morgan Chase are evidence of the need for the still-to-be-implemented Volcker Rule. (First Take)"
  
    State of the Markets articles include:   
    Looking Ahead to Friday's Market  
    JPMorgan Chase Sinks On Report of Credit Losses  "The wires are reporting that J.P. Morgan Chase & Co. said Thursday it had "significant" mark-to-market losses in its synthetic credit portfolio. JPM Shares fell 6.1% in response to $38.25 in the after-hours session. According to a Securities and Exchange Commission filing, the bank said its synthetic credit portfolio had proved to be riskier and more volatile than expected. The bank held a surprise conference call late Thursday to discuss the results. Update: A little more color on the JPM News... The newswires, talk shows and financial sites are talking ... Read More »."    
    Greece Update: The Latest on the Formation of a New Government 
    Import Prices Fall in April, Export Prices Up  
    Weekly Jobless Claims Hold Steady  
    IMF Talks of Safeguarding Loans to Europe  
     
    Market futures are down 0.6% tonight.