Michael Shedlock's picture

A leaked draft of the Euro Summit Statement is sparse on details and long on hot air. They only item of "substance" and I really use that world lightly, is an 10-point action item plan detailing an agreement to setup more meetings.

FS Staff's picture

Stocks rise on Euro Summit hopes, unemployment rates fall in half of US states, WH official: Obama to announce complete withdrawal from Iraq, Michael Pettis on being skeptical about China, ...

Ryan Puplava CMT's picture

Copper has technically fulfilled a lot of the requirements it needs to put in a major bottom with momentum divergence, a major support zone, and a bearish corrective pattern that has completed. Other economically sensitive commodities have also already stabilized with oil’s rise from $76 to approach $90 on Wednesday.

Daniel Amerman CFA's picture

There is a common but mistaken belief that the children and grandchildren of older Americans will be the ones who will be paying for today's massive government deficits. In this article we will look at six different layers of the deficit and unfunded government promises and put them into personal, per household terms in order to get to the truth of the matter.

Ryan Jordan's picture

Often times perception, and not reality, rules the day with the thousands or millions of speculators placing short term bets with assets like silver. These perceptions are particularly strong given that paper players in the silver market often control the price in the short term (6-8 months), since there is so much more paper silver than physical metal out there.

Chris Ciovacco's picture

As we mentioned yesterday, a fear-induced buying climax may occur in the coming days as shorts cover and managers sitting on cash move to the “I can’t take it anymore” stage. While a sustained break above the 1,266 to 1,276 range on the S&P 500 would increase the odds of stocks continuing to march higher...

Paul J Nolte CFA's picture

The financial markets are like any infant, attracted to the newest shiny object. The shiny objects have ranged from “good” earnings in the banking sector – primarily due to changes in reserves for loan losses to various comments from the European leaders about bailout plans. Little attention has been paid to the underlying economic data or valuation levels of various stocks. 

Bill Powers's picture

A brief history of the Keystone pipeline and the importance of its expansion to the refineries on the Gulf Coast as it relates to the both the oil consumer and Canada’s oil sands industry.

FS Staff's picture

Gaddafi is dead, unemployment claims drop, manufacturing soars, who's right about recession?, ...

Tim W Wood CPA's picture

Based on my long-term studies of both Dow theory and cycles, the evidence continues to suggest that the 2007 top marked the top of a 33 year secular bull market and that we have since been operating within the context of a secular bear market.