Local有人出D300# PhotoGear - 摄影器材
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Week of June 13-17, 2011.
The major indices had a notable rebound on Tuesday (June 14), only to be met
by a quick snapback to a new low the next day. Greek debt concern was once
again in the spotlight and appears to exert heavy pressure on the financials
with direct exposure as well as other risky assets. What seemed to be tale-
telling was the weakness in financial stocks at close on Tuesday (e.g., the
bearish engulfing pattern on BAC).
DOW30 blue chips such as MSFT,AXP,MCD showed strength on Thursday and Friday
. Overnight news of softened German stance on the Greek conundrum pulled the
futures off from the after-hours lows and propelled the major indices
higher in early-hour trading. However, on both days profit taking ensued,
causing the indices to give back most of the early gains.
Performance varies across sectors. Generally speaking, sectors with strong
performance in Q1 and Q2 fared better, and some beaten-up sectors also
showed signs of buy-in. Specifically, Conglomerates, Consumer Goods,
Utilities, Healthcare, Services, Industrial Goods, and Financial had modest
rebound in the last two trading sessions. By contrast, Basic Materials and
Technology seem to have struggled somewhat.
On the Macro front, Retail data were poor as expected, but were "less bad"
than consensus forecast. Q2 GDP growth was downgraded. Unless the numbers
pick up quickly in the coming weeks, it'd not be wise to have high hopes for
Q3. On a more positive note, housing starts and residential investment (
mainly multi-family housing and home improvement) have improved the most
recent month.
The major indices had a notable rebound on Tuesday (June 14), only to be met
by a quick snapback to a new low the next day. Greek debt concern was once
again in the spotlight and appears to exert heavy pressure on the financials
with direct exposure as well as other risky assets. What seemed to be tale-
telling was the weakness in financial stocks at close on Tuesday (e.g., the
bearish engulfing pattern on BAC).
DOW30 blue chips such as MSFT,AXP,MCD showed strength on Thursday and Friday
. Overnight news of softened German stance on the Greek conundrum pulled the
futures off from the after-hours lows and propelled the major indices
higher in early-hour trading. However, on both days profit taking ensued,
causing the indices to give back most of the early gains.
Performance varies across sectors. Generally speaking, sectors with strong
performance in Q1 and Q2 fared better, and some beaten-up sectors also
showed signs of buy-in. Specifically, Conglomerates, Consumer Goods,
Utilities, Healthcare, Services, Industrial Goods, and Financial had modest
rebound in the last two trading sessions. By contrast, Basic Materials and
Technology seem to have struggled somewhat.
On the Macro front, Retail data were poor as expected, but were "less bad"
than consensus forecast. Q2 GDP growth was downgraded. Unless the numbers
pick up quickly in the coming weeks, it'd not be wise to have high hopes for
Q3. On a more positive note, housing starts and residential investment (
mainly multi-family housing and home improvement) have improved the most
recent month.
