Pundits keep talking things up but who's left to listen? We rallied initially on better economic data (below) but there's a dark cloud over the market and quadwitching is ahead Friday. Adding to the uncertainty was influential Goldman Sachs strategist Jan Hatzius who commented: "A reduction in the lending of foreign banks to U.S. counterparties could have a meaningful impact on U.S. growth." He continued to assert that ongoing upheavals in the eurozone could shave 1% off U.S. GDP growth which frankly would put is in or near recession. And, per Hatzius, Goldman Sachs estimates U.S. banks are exposed to (gulp!) $1.8 trillion of counterparty risk from euro banks. Funny thing Bernanke and Geithner didn't mention this to us.
See more details IWM - The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
See more details QQQ - PowerShares Capital Management LLC is passionate about our goal of delivering the highest quality investment management available through one of the more benefit-rich investment vehicles ever created, the exchange-traded fund.PowerShares QQQ¿, formerly known as "QQQ" or the "NASDAQ- 100 Index Tracking Stock®", is an exchange-traded fund based on the Nasdaq-100 Index®. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The portfolio is rebalanced quarterly and reconstituted annually.
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