Market Wrap Up (JOEZ, PYMX, TAXS, CRDC, MFGD, COIN)

Market Wrap Up (JOEZ, PYMX, TAXS, CRDC, MFGD, COIN)

Today markets were mixed on retail results and continued problems with BP’s gushing oil well. The DOW closed up .12%, the NASDAQ closed up 1.06%, and the S&P closed up .4%. The Euro continued to drop today testing new lows. The Euro is currently at 1.2161 against the dollar. 
 
Investors are sitting at the edge of their seats waiting for tomorrow’s unemployment report, which is predicted to show 513,000 net jobs were added in May. A plethora of economic data today is pointing to a good result, but no one ever really knows. Although the market isn’t booming, encouraging signs are starting to emerge. 

Earlier in the afternoon BP stated that they had successfully made their cut on the pipe but it was not as precise as they had wanted. The capping will prove more difficult and a looser seal than expected. I told my friends living on the West Coast of Florida to enjoy their sandy white beaches while they last (very sad).

In world news rising tensions between North and South Korea continue. The U.S. has publicly backed South Korea in the dispute. China has been experiencing higher levels of pollution as its economy begins to bounce back and the economic giant has warned the U.S. of pushing steel duties on imports, hinting that a tariff war could ensue.
 
Finally, for the World Market Media indices our Mico cap  index finished up 2.47 or .27% lead by Joe’s Jeans (JOEZ) , PolyMedix (PYMX) and TaxMasters (TAXS). The World Market Media Nano Cap Index  finished down 10.99 or 1% lead by Cardica (CRDC) Money4Gold Holdings, Inc. (MFGD) and Converted Organics (COIN)  

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Disclosure: no positions

 

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