Daily Investment Interpretations
Monday, May 7, 2012
(Monday Night): The
markets caught their breath today, closing nearly flat:
U.S. blue chips lose on election unease;
European Turnaround Keeps US Market Afloat.
The NASDAQ Composite eased up 1.42
to end at 2,957.76. The Dow slipped
to close at 13,008.53; the S&P 500
tiptoed up 0.48 points
to settle at 1,369.58. Oil ended the day at 97.92: Oil ends at three-month low on Europe fears;
gold ended at 1639: Gold ends lower on European elections. The VIX
"U.S. stocks fight to erase losses suffered early Monday after rejection by voters in Greece and France of pro-austerity candidates."
"May 07 4:11pm: U.S. stocks recovered Monday afternoon from modest losses earlier in the day, as investors considered the implications of leadership changes in France and Greece. More"
I warned last night that the market indices were down more than 1%, and that the markets could go into free-fall today, and it continued to look that way early this morning. But then, a sudden, dramatic reversal took place in the European bourses, and the U. S. markets followed suit.
Greece ‘worst case’ outcome sparks turmoil "Outcome of voting potentially raises doubts over Greece's capacity to remain in the euro zone."
Greece rejects mainstream parties (video)
David Marsh: Fateful choice for France
French voters reject Sarkozy and austerity (video)
Hollande ousts Sarkozy in French vote
Message sent to Germany and Merkel
Michael Gayed writes Where is Spain's 'V' recovery? "Problems in Spain continue as Spanish stocks fall rolls on. But is it possible that they're falling so quickly that we may see a rebound soon?"
Avri Gilburt asks: Has the market topped for 2012?
Darrell Delamaide offers A warning, not an ultimatum, to Merkel.
State of the Markets articles include:
When Losing a Little (Very Little) is a Good Thing "After a straight-up joyride to the upside during the first three months of the year, the market has suddenly become very difficult again. Here's one way to succeed in this environment... ... Read More »"
Looking Ahead to Tuesday's Market
Market futures are very slightly positive tonight.