Starting the day: US index futures fell as EU stocks pared gains. The yen strengthened, while Italian bonds and oil slid. S&P futures slid 0.7% and the Stoxx Index advanced 0.7%. Italian bonds retreated for a 7th day. The yen and the Swiss franc appreciated. Oil declined 0.5%.
Consumer confidence plunged in 8/11 as expectations dived, with worsening views on future business conditions, jobs and income. The consumer-confidence index fell to 44.5 in August – the lowest level since 4/09 from a slightly downwardly revised 59.2 in 7/11.
Mid-day the NASDAQ is now UP +1.38 (-0.05%) to 2,565.06. The Dow is DOWN -19.41 (-0.17%) to 11,519.84. The DOW is approaching 12,000 but back above 11,000.
What’s new in the regenerative medicine/stem cell market … NOTHING, but it is the end of the month. Another month down … and our portfolios are tired of news and thinking of taking our OWN actions. Instead of following the herd, I have taken to creating a Common/Street Sense Indicator, a multi-variable qualitative model!