Finance

Market Recap: Moody’s Strikes Again

Markets closed mixed on Wall Street today:

▲ Dow +0.03 percent
▼ S&P -0.09 percent
▲ Nasdaq +0.02 percent
▲ Oil +0.24 percent
▼ Gold -0.19 percent

On the commodities front:

▲ Oil (NYSE:USO) rose to $101.15 a barrel
▼ Gold (NYSE:GLD) falling to $1,721.60 an ounce
▼ Silver (NYSE:SLV) fell 0.57 percent to settle at $33.53

(Related: Last Minute Stock Ideas for Valentine’s Day)

Today’s markets were mixed because:

1) Moody’s: Late Monday, Moody’s Investors Service downgraded six euro-zone countries — Italy, Malta, Portugal, Slovakia, Slovenia, and Spain — and put Austria, France, and the United Kingdom, all of which have top-tier triple-A credit ratings, on watch for a possible downgrade.

This means they have a 30 percent chance of being downgraded within the next 18 months. Consequently, investors were spooked Tuesday and they traded like it.

2) Retail: The Department of Commerce reported today that U.S. retail sales rose in January, but less than expected, as auto sales fell sharply. Additionally, this morning’s report downwardly revised retail sales growth for the preceding two months, painting a rather dismal picture for consumer spending in the two months it should have flourished — that is, the holiday shopping season.

3) Earnings: The relatively flat day of trading is at least partly the result of a rather mixed bag of earnings reports, with no major players making waves with their quarterly results. Michael Kors shares jumped after posting better-than-expected fiscal third quarter earnings and revenue, while Zipcar shares jumped after the company, which made its stock market debut last April, posted a 21 percent revenue bump and a 25 percent increase in total membership during the quarter.

Masco and Goodyear Tire shares sank after reporting losses, while drug companies Hospira and Watson both reported better-than-expected quarterly results, sending shares

[Editor’s note: the above is a cross post that originally appeared on Wall St. Cheat Sheet.]

Comments (12)

  • seeker9
    Posted on February 14, 2012 at 7:27pm

    Another day closer to the edge…
    On a lighter note, AAPL hit $510/share! It IS good to be a shareholder.

    Report Post » seeker9  
  • GotLead
    Posted on February 14, 2012 at 7:17pm

    Wake Up America!!!!!!!

    Report Post » GotLead  
  • progressiveslayer
    Posted on February 14, 2012 at 6:55pm

    The sad part is we’re toast even when we fire the Marxist POS heathen in November because the debt is too crippling,the well’s run dry.It‘s going to be a bloody affair of that I’m sure,how long it last‘s is anybody’s guess.

    Report Post » progressiveslayer  
    • TXPilot
      Posted on February 14, 2012 at 7:19pm

      @PROGRESSIVESLAYER……you are correct….at this point, the talk of how to stop the bus from going over the cliff, is over……no matter what happens, it is going to happen….the only question now, is how many of us will be sitting in the front and cheering, or in the back, bracing for impact.

      Report Post » TXPilot  
    • lukerw
      Posted on February 14, 2012 at 7:58pm

      Dear Senator: This is a picture of Madam Guillotine…

      Report Post » lukerw  
  • Snowleopard {gallery of cat folks}
    Posted on February 14, 2012 at 6:49pm

    I give it until just before the Nov elections for Europe to do the death spiral; that will be just about the same time we hit the latest debt limit mess again.

    Obama will demand emergency powers, and a ‘emergency raising of the debt ceiling’ plus whatever else he can do to inspire a blind panic; his union and Occupy thugs go on the rampage, and he is able to blame the Republicans completely.

    Suddenly the elections that had been focused on social issues returns to the economy and Mr Save-the-world along with Van Jones sweeps into office again (yes I can see Van Jones as Obama’s VP)

    Think on it before you scoff on my idea being crazy; I pray it never happens.

    Report Post » Snowleopard {gallery of cat folks}  
  • mapgirl10
    Posted on February 14, 2012 at 6:39pm

    Makes me sick we are on the same path as WWII countries were then!

    Report Post »  
  • The_Jerk
    Posted on February 14, 2012 at 6:38pm

    Why nations borrow money from private banks is beyond me. We are all getting taken to the cleaners by these international money lenders. End the Fed and the international Ponzi scheme that enriches private citizens. We’ve been fools for far too long.

    Report Post »  
  • RightPolitically
    Posted on February 14, 2012 at 6:37pm

    Europe will collapse. It’s just a matter of time before their SOCIALIST UTOPIA topples. And then, WE ARE NEXT!

    Report Post » RightPolitically  

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