Market Soapbox Lite 04/24/06
In our top story tonight, Generalissimo Francisco Franco is STILL dead.
All foreign markets down, Nikkei got clobbered -2.8% as the Yen reached a 3 month high vs the Dollar. Investors sold off in most Asian markets as the appreciation in their currencies will hurt their export driven economies.
MON, oil fell 2.5% to go under $74, it didn't matter. Liquidity was tied up rescueing the bond market and a broadbased selloff in equities ensued. The dollar and commodities got clobbered again. Copper -5.3%, Silver -9%
All indices DOWN except DJUA, DJTA. RUT, MID, XOI, XAU pounded down. All sectors got clubbed down, excepting Airlines, Biotech, Utilities & Transports.
Another ugly day for stocks on steady volume with ugly internals, DJIA -11. This week DJIA -11, since 09/23/05 DJIA +648.
Last week, the Dollar had its worst week vs the Euro in over a month and the DJIA had its best week in 3 months +1.9%. Also, crude up 6% last week and 25% over four weeks. Today the Dollar slid to a 7 month low vs the Euro.
All foreign markets down, Nikkei got clobbered -2.8% as the Yen reached a 3 month high vs the Dollar. Investors sold off in most Asian markets as the appreciation in their currencies will hurt their export driven economies.
MON, oil fell 2.5% to go under $74, it didn't matter. Liquidity was tied up rescueing the bond market and a broadbased selloff in equities ensued. The dollar and commodities got clobbered again. Copper -5.3%, Silver -9%
All indices DOWN except DJUA, DJTA. RUT, MID, XOI, XAU pounded down. All sectors got clubbed down, excepting Airlines, Biotech, Utilities & Transports.
Another ugly day for stocks on steady volume with ugly internals, DJIA -11. This week DJIA -11, since 09/23/05 DJIA +648.
Last week, the Dollar had its worst week vs the Euro in over a month and the DJIA had its best week in 3 months +1.9%. Also, crude up 6% last week and 25% over four weeks. Today the Dollar slid to a 7 month low vs the Euro.
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