Daily Investment Interpretations
Friday, June 8, 2012
(Friday Night): The
markets leaped today and then fell, to close mixed: U.S. stock indexes rise on hope for Europe;
Stocks- Best week of 2012. The NASDAQ Composite closed
(0.93%) to end at 2,858.42. The Dow added
to close at 12,554.20; the S&P 500
advanced 10.67 points
to settle at 1,325.66. Oil ended the day at 84.37: Oil snaps
five-week losing streak;
gold logged off at 1595: Gold ends higher, but suffers a weekly loss.
The VIX dropped 0.49
"Stocks rise after President Obama urges Europe to act quickly to combat its economic crisis and on report Spain is close to asking for help."
"U.S. stocks rose Friday, capping the best week of the year, amid speculation that Spain will request a bailout for its troubled banking sector over the weekend. More".
Last night, I wrote: " The markets were looking for follow-through today and they didn't get it. Looking at the charts, I'd expect further market erosion tomorrow. In our headline-driven market environment, I'd want to be in cash in case any wicked surprises show up over the weekend." Yeah. That's what I wrote. Good thing I didn't act on my prediction.
U.S. debt load falling at fastest pace since ‘50s.
U.S. trade deficit for April reflects weaker exports.
Wholesale inventories increase 0.6%
Obama warns on Greece "President takes a more strident tone with Europe, urging leaders to aid the troubled banking sector and warning Greece not to leave the euro zone."
Blocked at home, Obama gives advice to Europe
Moody's: Spain, Greece may trip more rating cuts
S&P affirms U.S. credit rating, outlook negative
Pavlik: Watch out for Greek elections
U.S. braces for U.K.-style revolt. "U. S. boards should brace themselves for mounting dissatisfaction with ececutive compensation as the current 'shareholder spring' in Europe spreads."
Europe may issue joint bond, just not ‘euro bond’
Gabriel Stein: Why sweat a Greek exit?.
EU troubles bite into German trade
What if the Fed's forced to action?
Michael Gayed advises that Bear fever is breaking.
State of the Markets articles include:
You Pick Your Spots "Imagine if you will that you are currently wearing the shoes of either "Gentle Ben" Bernanke or "Super Mario" Draghi, who happen to head the central banks of the USofA and the European Union. If you are interested in playing along this morning, think about what is going on in the world right now and then spend some time trying to figure out what you'd do next. And no, jetting off to the south of France and burying your head in the sand is not really an option! The whole of the financial world is basically clamoring for your thoughts, ... Read More »"
Wholesale Inventories Above Expectations
Report: Spain To Request Aid This Weekend
Japanese GDP Above Expectations in Q1
Real Time Strategy Sneak Peek: The PRO Trader