Closing Market Commentary
February 06 2012
U.S. stocks closed lower, slipping with European markets as rekindled worries about Greece and its debt woes lead to profit taking. Press reports said Greece missed yet another deadline toward solving its debt crisis as political leaders failed to respond to bailout terms from the EU and IMF. Greece needs the funds by March in order to meet big debt repayments. NYSE breadth 18-12 negative, NASDAQ breadth 15-10 negative. Treasuries and the dollar index rose. Gold fell. Oil futures were mixed. Bernanke will testify to the Senate Budget Committee about the economy tomorrow.
Provided by Standard and Poor's. Past performance does not guarantee future results. There is no assurance these trends will continue. The market value of securities fluctuates and you may incur a profit or a loss. This analysis does not include transaction costs and tax considerations. If included these costs would redue and investor's return. The S&P 500 is an unmanaged index of 500 widely held stocks. The NASDAQ 100 Index is an unmanaged index of 100 of the largest non-financial domestic companies listed on the NASDAQ Stock Market's National Market. The Dow Jones Industrial Average is an unmanaged indes of 30 widely held securities. It is not possible to invest diretly in an indes. Commodities are generally considered speculative because of the significant potential for investment loss. Commodities are volatile investments and should only form a small part of a diversified potfolio. There may sharp price fluctuations even during periods when prices overall are rising.
