Daily Investment Interpretations

Monday, June 25, 2012

2012-6-25: (Monday Night): The markets plummeted today: Europe derails stocks again; Stocks plummet on Europe jitters. The NASDAQ Composite fell 56.26 points (-1.95%) to end at 2,836.16. The Dow retreated 138.12 points (-1.09%) to close at 12,502.668; the S&P 500 dispensed with 21.30 points (-1.60%) to settle at 1,313.72. Oil rose to 79.21: Oil ends 0.7% lower at $79.21 a barrel; gold logged off at 1585: Gold ends higher as investors await EU summit. The VIX gained 2.08 to 20.11.
    "With Cyprus lining up for a bailout and expectations low for the upcoming EU summit, stocks succumb again to Europe fears. Positive U.S. home-sales data is no help to markets Monday."
    "
U.S. stocks fell Monday as investors lowered their expectations for a key summit of European Union leaders later this week. More"  
    Today probably marked a readjustment after yesterday's panic selling.. 
    

    Marketwatch says: 
    Stocks, oil give EU summit an early Bronx cheer  
    Moody's downgrades ratings at 28 Spanish banks
    Cyprus No. 5 to seek bailout  "Island nation cites exposure to Greek debt in seeking to join four other countries getting euro-zone assistance."
    End of the road for Europe? 
    'Greek finance minister to step down  
    Spain formally requests aid  
    Merkel in a pickle over bunds  
    Soros rebukes Berlin
    Rex Nutting delineates Obama’s four biggest failures.
    Housing inventory plunges  "Housing inventory is shrinking in many parts of the country, but shadow inventory is piling up, columnist Amy Hoak says."
    New-home sales rise 7.6% in May.  
    Housing inventory is shrinking in many parts of the country, but shadow inventory is piling up, columnist Amy Hoak says.
    What Buffett's favorite metric says now Buffett's favorite Metric is the ratio of total stock market evaluation to GDP. Right now, it's at 
    Origin of Euro Crisis Was in U.S., Says EU Chief (video)      
      

    State of the Markets articles include:   
   
Technical Talk: So Much For The Rally
   
And Now a Word From The Bear Camp  "I would contend that the global economic situation has been bad and getting worse for quite some time now. It is no secret, for example, that I have felt that the folks at ECRI would in the final ... Read More »"
    Are There Reasons To Be Optimistic?  "As I've written a time or twenty, the purpose of my morning market missive is to identify the forces that are driving the market. The thinking is that if one can understand what is happening to the stock market (SPY, DIA, QQQ, MDY, IWM) in the short-term then you ought not be surprised when the really big moves occur. And let's be clear about one thing; the real money in this game comes from getting the really big moves right such as the massive decline ... Read More »"
    New Home Sales Up 7.6% in May
    Soros Speaks: Eurozone Facing Do or Die Situation 
    Chicago Fed National Activity Index Falls in May  
    BIS Says Central Banks Out of Ammunition  
    Spain Officially Requests Aid for Banks  

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

    Market futures are up a bit tonight.