Wednesday, June 15, 2011

Wednesday Options Recap

Frederic Ruffy submits:


Stocks are broadly lower on disappointing economic data and worries about the ongoing European Debt Crisis. The euro was slammed for a 1.8 percent loss against the buck after protestors clashed with police in Athens. The violence is raising concerns that the debt problems in Greece are going to escalate out of control. Meanwhile, the domestic economic news included another round of disappointing data. The NY Empire State Index fell to -7.8 last month, from 11.9 in April. Oops. Economists were expecting an increase to 14. The Consumer Price Index [CPI] increased by .2 percent, compared to expectations for no change, and Industrial Production rose .1 percent, half as much as expected. The latest NAHB Housing Index was also well below estimates (of 16). The index fell 3 points to 13 and to levels last seen in September. The combination of bearish headlines from Europe and disappointing domestic economic

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