The
stock market sometimes moves in mysterious ways, and there are those who would
tell you the exact cause of every twist and turn. Here's a more likely
explanation - and the reason why it probably doesn't matter. (Find more
videos on our YouTube channel: www.youtube.com/tryonite.)
1 - In case we needed another
example of the futility of predicting market performance, the Dow posted its best 3-day gain of
the year last week. Where did that come from? Both This Week's Economic News
(below) and This Week's Video (above) attempt to explain the unexplainable.
2 - Despite what the markets might be saying, Europe is still in dire fiscal straits. Depending on whom you listen to, we could eventually see (a) a Greek exit from the eurozone, (b) a complete breakup of the euro, (c) a surviving but somewhat changed eurozone, or (d) a smaller fiscal union anchored by Germany, France, Italy and Spain. But knowing that we really can't tell what might happen, perhaps we should add (d) none of the above.
3 - Reminder to clients: In case you have yet to complete our technology survey, please CLICK HERE to do so.
2 - Despite what the markets might be saying, Europe is still in dire fiscal straits. Depending on whom you listen to, we could eventually see (a) a Greek exit from the eurozone, (b) a complete breakup of the euro, (c) a surviving but somewhat changed eurozone, or (d) a smaller fiscal union anchored by Germany, France, Italy and Spain. But knowing that we really can't tell what might happen, perhaps we should add (d) none of the above.
3 - Reminder to clients: In case you have yet to complete our technology survey, please CLICK HERE to do so.
Have an unpredictably fun week!
~Andy
DOW LOGS BEST 3 DAYS OF
THE YEAR
How could that happen with such
negative indicators? Two words: renewed hope. Thursday, European Central Bank
president Mario Draghi said the ECB would do whatever is needed to save the
euro; Friday, Draghi was reportedly talking with Germany's central bank about
coordinated sovereign debt purchases. So the Dow (+1.97% to 13,075.66),
NASDAQ (+1.12% to 2,958.09) and S&P 500 (+1.71% to 1,385.97) all did well
last week. COMEX gold rose 2.22% last week to end Friday at $1,618.00; oil
settled at $90.13 Friday, as prices slipped 1.85% across five days.1,4,6
|
%
CHANGE
|
Y-T-D
|
1-YR
CHG
|
5-YR
AVG
|
10-YR
AVG
|
|
DJIA
|
+7.02
|
+6.28
|
-0.29
|
+5.82
|
|
NASDAQ
|
+13.55
|
+6.99
|
+3.09
|
+13.44
|
|
S&P
500
|
+10.21
|
+6.21
|
-1.00
|
+6.25
|
|
REAL
YIELD
|
7/27
RATE
|
1 YR
AGO
|
5 YRS
AGO
|
10
YRS AGO
|
|
10 YR TIPS
|
-0.61%
|
0.56%
|
2.48%
|
3.10%
|
Sources:
cnbc.com, bigcharts.com, treasury.gov, treasurydirect.gov - 7/27/124,7,8,9
Indices are
unmanaged, do not incur fees or expenses, and cannot be invested into directly.
No comments:
Post a Comment