Marketplace Index for Wednesday, December 28, 2011
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For a quiet week on the markets, there was still enough going on the global headlines to bring things down. In the Middle East, Iran's recent threats to block a key path for crude oil through the Strait of Hormuz had been driving oil prices up the past several days. In Europe, news that even more banks need the cheap loans the European Central Bank's been handing out also shook up the markets. And Robert Pavlik, the chief market strategist at Banyan Partners, says for some a negative S&P is a good thing. The Daily Pulse is down today on news that public-worker pension funds lost big in the third quarter of 2011. Sometimes when it rains, it pours.