U.S. equity markets broke their losing streak this week, finishing with modest gains. Small-cap stocks (Russell 2000 +3%) and technology (Nasdaq +2%) outperformed.
Eight of the 10 sectors that make up the S&P 500 advanced, with materials, consumer discretionary, energy, consumer staples, IT and industrials all gaining 1-2%.
The market took it’s cues from the greenback, which really played off events in Europe, namely Greece. Speculation about contagion in the PIGS (Portugal, Italy, Greece ans Spain) should continue for the forseeable future, at least until we see final resolution. I just don’t get the feeling that there will ever be “final” resolution on this topic.
The S&P is in that “zone” again, 1150-1180. Let’s see which way it will break during the holiday shortened week. Have a great long weekend and enjoy the links. Oh, the Jamaican bobsled team didn’t qualify for the Olympics, that kills it for me.
Watch those CDS spreads.
This was a good watch about Goldman Sachs. (Video)
Will the Paulson-Immelt fireside chat happen?
Private equity is already getting kicked to the curb by the bulge brackets.
Dykstra is back. Where’s the SEC?
One arm bandits are paying the rent for some in the UK
A 20% VAT possible in the UK.
Verizon to put Skype on mobile phones.
Beijing is 50% vacant, see TAO.
Broadcom and white collar crime.
Israel/Iran, the rhetoric heats up.
Charlie Wilson passes.
The Surge starts.
More fun at MSDNC
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