Just another characteristically wild day on planet earth.
But first, the scoreboard:
S&P 500: +1.96
And now the top stories:
- Yesterday the market tanked as the Saudi crisis came to a fore. In the early going, today, it looked like that would again dominate and bring everything down. The Tadawul All Shares crashed another 5%.
- In Europe, things were fairly quiet, though notably negative, with losses of at least 1% across several bourses.
- The pre-dawn hours of the US were filled with Libya news. More and more it’s looking like civil war, as pro-Qadafi forces took over some cities previously held by the revels. Qaddafi himself gave a speech that was his longest ever.
- As the world awaits Friday’s big jobs report, we got two little morsels of labour data. The first one was the Challenger layoffs report, which was unpleasant. The second one was the ADP report which was strong. As for Friday, nobody knows anything.
- Then, at 1:00 AM ET we got the iPad 2. Apple stock rallied after Steve Jobs came out on stage.
- And actually the iPad launch seemed to change the tenor of the day. Gold slid, and the US averages all went positive. Oil stayed really elevated all day, and it’s currently over $102.
- For some geopolitical intrigue, check out the satellite pictures that may have started the whole unrest >