chartDepending on how you invest, today was either one of those days you wish your money was not on the table, or you were somehow in the Forex markets or shorting stocks and walking away a big winner. Fears of the recovery of the global economy once again jilted the good news of some companies such as FedEx which was gaped higher as companies like Bank of America, McDonalds and 3M all dropped significantly on weaker numbers. Many have already been aware of the problems of Dubai, but now Greece is added to the mix with their own credit problems. Stocks did come off their lows of the day as President Obama suggested spending on infrastructure projects as well as increased tax cuts for small businesses.

Here is the market summary for Tuesday:

Looking at Wednesday, the markets seem to be pointing to another negative open, this can change by morning. The strength in the dollar should not be seen as along term trend in my opinion. This is a temporary shelter for investors looking to perhaps wait off any mini-correction in the markets and once again, the dollar will get weaker until the larger economic picture clears up.

Finally, (VVTV) is back into the $4.50 range, its moved up about $1 in a short while. Nice movement on positive BlackFriday sales and perhaps strong sales during the holidays.

Economic Indicators:
Dec 9 Wholesale Inventories Oct Forecast = -0.8% Prior= -0.9%
Dec 9 Crude Inventories 12/04 Prior= 2.09M

News Worth Reading:
Calyon Starts Coca-Cola (KO) at Buy, Pepsi (PEP) at Underperform (StreetInsider)

United Orders 50 Wide-Body Planes From Boeing, Airbus (Wall St Journal)

Geithner Said to Be Seeking TARP Extension Until Next October (Bloomberg)

Happy Investing!

Aman, MBA

Related posts:

  1. Monday Drops
  2. Bernanke Talks and Dollar, Stocks Slip at End of Day
  3. Tuesday – Greenspan See Bottom in Housing Market and Wednesday Indicators