Daily Investment Interpretations
Thursday, May 31, 2012
(Thursday Night): The
markets fell a little today: U.S. stocks drop 6% in May, worst for Dow in 2 yrs;
Nasdaq: Worst month in two years.
The NASDAQ Composite closed down 10.02
(-0.35%) to end at 2,827.34. The Dow climbed
to close at 12,393.45; the S&P 500
declined 2.99 points
to settle at 1,310.33. Oil ended the day at 86.68: Oil's 17% drop in May is worst since Dec. 2008;
gold logged off at 1561: Gold futures slip after economic data.
The VIX slipped 0.06
to 24.06. Technically speaking, the markets
are retesting their two-week-ago lows.
"Stocks clear bulk of losses, but Dow industrials still suffer their first monthly loss in eight"
"U.S. stocks finished in the red Thursday, ending a wretched month on a weak note. More"
IMF looking at Spain bailout: report
Kevin Marder says that Europe goes from messy to messier.
Irish voters expected to back EU’s fiscal compact
St. Louis Fed's Bullard: Europe action needed.
Euro bounces back as weak U.S. data in spotlight
Ireland voting on EU fiscal compact
Matthew Lynn says Spain will leave euro first
Harry Dent sees Germany quitting euro "Harry Dent mulls prospect that Germany, not Greece or Spain, will quit Eurozone."
David Callaway says Markets will rally when Greece leaves euro.
Global crisis plays out in NY’s gold market.
ADP: May private-sector payrolls up 133,000
First-time jobless claims trend higher
U.S. GDP revised down to 1.9% growth rate
Chicago PMI down again, hinting at recession
Cleveland Fed's Pianalto: Cyclical weakness
Moves to make if the U.S. gets downgraded
Goldman sees significant opportunity in Europe
State of the Markets articles include:
Technical Talk: The Retest is On
Does Any Of It Really Matter? "It was a tough day for the S&P 500 on Wednesday as the blue chip index gave back 1.43%, which wiped out the entire gain seen over the prior five sessions. I'm told it was a "90% down day" as down volume swamped up volume by more than 14 to 1 and that the all-important 50-day moving average was breached to the downside. Other harbingers of bad things to come included the Euro (FXE) diving to lowest level in two years, gold (GLD) and the dollar (UUP) surging, commodities (DBC) plunging, the VIX (VXZ) spiking, and the yield on the ... Read More »"
Market Mover: IMF Working On Contigency Plan for Spain
Spain Follow-Up: Spain Says No Plans in Works
"We Are Programmed to Receive" Redux
Bloomberg Consumer Comfort Index Improves
Chicago PMI At Lowest Level Since Sept 2009
U.S. GDP Growth Revised Lower for First Quarter
Weekly Jobless Claims Higher Continue To Rise
ADP Employment Report: Job Growth Below Expectations
Market futures are ~½ % lower tonight.