- Stocks ended essentially flat on Tuesday, same as Monday, as a couple of global developments — namely, an interest-rate hike in China — seemed to put the ceiling in early on equities. Large-cap stocks, and those of the Nasdaq variety, in particular, are seeming a little tired, while the speculative mood is still driving small-caps higher on an almost daily basis. While stocks sort of laid there, the let’s-worry-about-growth mood manifested more in the precious metals trade, where gold and silver again hit all-time and 31-ish-year highs, respectively. Bonds sold off, with the 10-year note yield rising to 3.48%.
- After the closing bell, a rough afternoon for Am Superconductor (NASDAQ:AMSC), which fell more than 40% after the company said its fiscal fourth quarter earnings and revenue would hugely miss estimates because a contracted shipment was refused delivery by a customer, which also has refused to pay for certain shipments made in fiscal 2010. Not good.
- On Wednesday, there is really little to offer….few earnings, essentially no major economic data. Maybe watch a baseball game or something. And oil prices.
OUT THERE SOMEWHERE:
- The ‘black swans’ are not gone.
- China hikes rates to fight inflation.
- Bernanke, on the other hand, not so worried about it.
- How to avoid another tech-bubble fallout.
- Why more women make up your stock-trading competition.
- How about the all-time high for corn?
- Into insider buying/selling? Follow the CFO, not the CEO.