Daily Investment Interpretations

Wednesday, June 13, 2012

2012-6-13: (Wednesday Night): The markets yo-yoed up and down today: Stocks wobble on Europe; Stocks end lower on concerns about Europe. The NASDAQ Composite lost 24.46 points (-0.86%) to end at 2,818.61. The Dow slid 77.42 points (-0.62%) to close at  12,496.38; the S&P 500 relinquished 9.3 points (-0.70%) to settle at 1,314.88. Oil ended the day at 82.48: Oil closes lower again; gold logged off at 1619: . The VIX gained 2.18 to 24.27.
    "U.S. indexes close lower as traders worry about Greek elections and assess weak retail sales."
    "
U.S. stocks sold off late Wednesday to end the day lower on concerns about the debt crisis in Europe and falling oil prices. More".  

    Marketwatch says: 
    Crisis focus shifts to Italy  "Italian 10-year bond yields have this week climbed back above 6% ahead of a keenly watched auction on Thursday, as contagion fears from Spain stoke worries that Italy is next in the bailout line."
    Matthew Lynn: Finland the answer to euro crisis  
    Switzerland’s ‘Katrina moment’ looms  
    Greek bank withdrawals accelerate  
    Preparing for Gre-xit (video)  
    Industrials and autos lead European pullback  
    Egan-Jones downgrades Spain to CCC+  (Junk status)
    Dimon can’t hide disdain  "J.P. Morgan’s chief comes across as combative, dismissive and at times disgusted with his congressional questioners. (First Take)"
    Why Dimon's testimony doesn't matter  
    Panel members got J.P. Morgan contributions
    Is Dodd-Frank deja vu all over again?  
    Mark Hulbert reminds us that Stock market is saying “Don’t fight the Fed”.
    Michael Gayed writes: Reflation returns as 'melt-up' takes hold.  
    Chuck Jaffe warns High-yield investment programs are hype.  
    PPI falls a steep 1%.  
    Business inventories up.  
    Gas tamps down May sales.
       

    State of the Markets articles include:   
    Looking Ahead to Thursday's Market  
    Technical Talk: The Problem Here Is...  
    Either Hope Trumps Fear Or...  "It is often said that markets are never wrong, but people/traders often are. As such, I should probably begin this morning's meandering market missive with the caveat that I too just might be wrong with my conclusion. But, since I've been wrong a time or two before and it is a safe bet that I will likely be wrong again at some point in the future, I'm okay with that. So off we go. Long-time readers know that I'm a bit of a stickler about understanding the "why" behind a market move. I'm a firm believer in the idea that there is indeed a "why" behind every major move in ... Read More »"
    Spain Downgraded by Egan Jones to Junk Status  
    Spain Also Cut At Moody's  
    Business Inventories Above Expectations in April
    NAAIM Index Shows Managers Increasing Exposure
    Investors Intelligence: Bullish Sentiment On the Rise  
    Retails Sales Fall Across the Board in May  
    Producer Price Index Shows No Inflation in May 
    Yields Still Rising at Italian T-Bill Auction  
    Eurozone Industrial Production Declines Again in April  

    For real-time updates throughout the trading day, try State of the Markets Twitterfeed.

    Market futures are slightly positive tonight.