Daily Investment Interpretations

Thursday, May 31, 2012

2012-5-31: (Thursday Night): The markets fell a little today: U.S. stocks drop 6% in May, worst for Dow in 2 yrs; Dow, Nasdaq: Worst month in two years. The NASDAQ Composite closed down 10.02 points (-0.35%) to end at 2,827.34. The Dow climbed 26.41 points (-0.21%) to close at  12,393.45; the S&P 500 declined 2.99 points (-0.23%) 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"

    Marketwatch says: 
    IMF looking at Spain bailout: report  
    Kevin Marder says that Europe goes from messy to messier.
    Irish voters expected to back EUs 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 NYs 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 ~ % lower tonight.