Yesterday’s whipsawing action on the domestic markets may be a sign of a slow down looming. Europe is looking like it wants to turn its sovereign debt crisis into a never ending mini-series. The Dow managed to recover all of its losses on the day and closed up 19 points. The Nasdaq and S&P remained in negative territory, dropping 10 and 2 points respectively.

Jobless data yesterday was massaged by revisions to make it appear as a drop in claims. The print from the week previous was revised upwards to 364k. Created a better looking headline of a 5k drop in claims. Will be interesting to see when earnings season starts anew in the coming weeks, plus the late April Fed meeting. [Read more...]