Daily Investment Interpretations

Thursday, May 3, 2012

2012-5-3: (Thursday Night): The markets closed down today: U.S. stocks feel tugs of jobs data and Europe fear; Stocks stumble ahead of April jobs report . The NASDAQ Composite plummetted 35.55 points (-1.16%) to end at 3,024.30. The Dow dropped 61.98 points (-0.47%) to close at  13,206.59; the S&P 500 collapsed 10.74 points (-0.77%) to settle at 1,391.57. Oil ended the day  at 102.54: Oil slides 2.6% to lowest level in nearly 2 weeks; gold ended at 1636: Gold ends $1,640 after U.S. jobs, services data. The VIX dropped 0.68 to 17.56.
    "Weak reading on private-sector employment casts doubt on the strength of Friday's payrolls report.."
    Marketwatch says: 
    U.S. jobless claims drop.  "Week's applications for jobless benefits see first drop in a month, to just slightly above a four-year low."
    Planned job cuts up
    Kathleen Madigan: Don’t be fooled by ADP
    U.S. productivity drops 0.5% in first quarter  
    Expect stagnant U.S. economy in 2013: Roubini.  
    U.S. stocks' early gains hit by Europe worries  
    Kevin Marder writes Momentum returns 
    Stocks have outgrown economy  
    Draghi: Economic outlook subject to downside risks "European Central Bank President Mario Draghi says outlook remains subject to downside risks, tied in part to sovereign-debt tensions."
    Thirty-year mortgage rate at record-low 3.84%   
    Cody Willard writes about his Bluefly Bubble Indicator. He also tells us what • What Web 1.0 stocks tell us about 2.0

    State of the Markets articles include:   
    Looking Ahead to Friday's Market  
    Roubini: The New List of Macro Concerns  "In September 2006, Nouriel Roubini – aka Dr. Doom – a warned a wary IMF that the U.S. was likely to face a big-time housing bubble bust, an oil shock, and decreased consumer confidence. Essentially, Roubini warned of a deep recession in the U.S., which came to pass. As such, whenever Roubini has spoken since then, people listen. Although Roubini recently turned positive on U.S. stocks (for a short-term trade, which, by the way, wasn't a bad call), the notoriously negative economist is back with a new list ... Read More »"    
    Thursday's Economic Data Mostly Disappoints
    Stock market futures are flat again tonight.