DOLLAR SURGES, STOCKS HAMMERED: Here's What You Need To Know

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Photo: Seminorossi Fan Club

A fitting end to the week, no doubt…But first, the scoreboard:

Dow: -103
NASDAQ: -34.51
S&P 500: -10.95

And now, the top stories:

  • Really, the theme for the entire week was commodity volatility and we got that in spades today. Crude was all over the map, ending right back around $100. Silver had fallen earlier, but actually ended up. The dollar, which has been on a tear for a while now, had another big day.
  • There were all kinds of scary Europe headlines, and people wonder whether this weekend is going to bring some development on the Greek restructuring front.
  • In terms of the US economy, the CPI came in right in line with expectations, while May Consumer Confidence was a little bit better than expected.
  • On the corporate front, there wasn’t too much, although Yahoo is in a world of pain due to its apparently letting Chinese assets slip through its fingers. Other Chinese internet stocks like RenRen and Sina fell again. Other big momentum names, like MolyCorp, got clobbered as well.
  • Meanwhile, it’s 13-F day, so we see get to see what big hedge fund managers did with equities in Q1.
  • For some investment ideas, here’s a list of possible breakup/spinout names put forward by Goldman Sachs >

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