Daily Investment Interpretations
Wednesday, May 2, 2012
(Wednesday Night): The
markets closed mixed: Jobs data pressure Street;
Dow closes at a 4-year high.
The NASDAQ Composite rose 9.41
to end at 3,059.85. The Dow dropped
to close at 13,268.57; the S&P 500
re-inflated 3.51 points
to settle at 1,402.31. Oil ended the day at 105.33: Stocks, oil, bond yields give a little back;
gold ended at 1654: Gold extends losses after weak jobs report. The VIX
"Weak reading on private-sector employment casts doubt on the strength of Friday's payrolls report.."
Matthew Lynn warns that Time is running out to rescue Spain.
Are we on the way to Dow 14K (audio?
Mark Hulbert tells us about May doesn’t have to be bad for stocks
Irwin Kellner says: Warning: Fiscal icebergs ahead
U.S. 10-year yields touch 3-month low.
Private-sector job growth slows to 119,000 in April "Restrained private-sector payroll gain is led by service sector and small and midsize businesses."
State of the Markets articles include:
Is "Better-Than-Expected" About To Make a Comeback? "Good Morning. The recent correction in the stock market has been attributed largely to returning concerns about the state of the European sovereign debt crisis as well as a general softening of the economic data here in the U.S. While just about every report to hit the tape in the first quarter was better than expected, since then, it appears that the economic momentum has begun to fade. And in short, this put a fairly large dent in the BTE theme. As a result, some of the exuberance was removed from stock prices. To be sure, many analysts and managers had been caught off guard by the BTE phase, which ... Read More »"
Goldman Sachs Sending Mixed Signals (Again) "As usual, the spokesmen and women for Goldman Sachs have been making headlines recently with their market calls. However the views being expressed in public seem to be conflicting... ... Read More »"
ADP Employment Underwhelms, Factory Orders Fall "ADP reported that the private sector job market expanded in the month of April, though the figure came in well below consensus expectations... ... Read More »"
Looking Ahead to Thursday's Market
European PMI's Show Economies Continue to Struggle
HSBC's China PMI Manufacturing Index Improves
Stock market futures are flat tonight.