Sorry, I haven’t posted as much lately. I have been busy fixing computer problems which I think are solved now.
US stocks had trouble today getting the 1220 level on the S&P 500 stock index and ended down 1.1% – 2.5% today. European stock markets were mixed today as were Asia’s.
Most economic numbers have been poor lately but unemployment seems to have been level to slightly better so everyone is waiting for the unemployment news tomorrow AM. It would take a pretty crummy # for the market not to like them.
That said, don’t take the unemployment #s as gospel because one reason the unemployment rate is going down is because more people have run out of state benefits and are no longer counted as looking for work, making the rate seem better than it is.
Europe seems to be the center of the investment universe these days and that is because the bailouts of the poor Southern European nations are getting tiresome to voters in the stronger countries like Germany, yet the problems in Greece, Italy, Spain and Portugal are either staying in place or getting worse. At some point, big decisions have to be made and that will probably involve the beginnings of some form of central control for Europe. Germany and France have already called for that. But, politically that will be very difficult. But, so is bailing out the southern countries and no one wants to European Union to split up.
Most bonds were higher; gold was up almost 1%.