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RegMed Competitive and Market Intelligence 2/6/12, stocks fall, amid Greek arguing, get them out of the news, let them default
The 6 W’s: Who, what, where, when, why and what of it …
Today’s Gospel: Last week, the Dow crossed into … bull territory thanks to gains driven by the government employment report … investors expressed skepticism over whether the rally seen at the start of the year … could continue.
- This week, geopolitical world continues in an absolute stew of troubles but, we … all have a lot to more to consider… in our own little sectors;
- Profit taking is contributing to the weakness in the market; with the Nasdaq pulling back off the 11 year closing high it set last Friday.
Mid-Day: The NASDAQ is DOWN -5.02 (-0.17%) to 2,900.64 while the Dow is DOWN -44.96 135.40 (-0.35%) to 12,817.27.
Mid-Day Market Commentary: Stocks remained under pressure Monday, pausing from an impressive rally in the previous week, as investors were concerned over Greece’s inability to agree on a debt deal. The S&P 500 and the Nasdaq also slipped. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded near 18. With some traders cashing in on the recent strength in the markets, stocks are seeing moderate weakness in late morning trading on Monday. The major averages are all in negative territory after moving sharply higher in the previous session. Profit taking is contributing to the weakness in the market; with the tech-heavy Nasdaq pulling back off the eleven-year closing high it set last Friday. Lingering concerns about the ongoing Greek debt crisis have also generated some selling pressure.
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