S&P 500

Via Dana Lyons' Tumblr,

High beta stocks recently hit a wall of resistance – and lost.

While attending the ultra-exclusive Ambrosetti Workshop, University of Chicago finance professor Luigi Zingales took a few minutes to discuss income inequality in an interview with Bloomberg.

We were delighted that the irony of being at a luxurious villa on the shores of Lake Como discussing income inequality wasn’t lost on the Booth PhD: "First of all it’s a bit funny to discuss about income inequality here at this luxurious villa in Como next to George Clooney’s villa"

As Jeb Bush might say, "Please laugh."

In the final day of the week, it has again been a story of currencies and commodities setting stock prices, however instead of yesterday's Yen surge which slammed the USDJPY as low as 107.67 and led to a global tumble in equities, and crude slide, today has been a mirror imoage after a modest FX short squeeze, which sent the Yen pair as high as 109.1, before easing back to the 108.80 range.

While we all very capable of discerning the 'recovery' facts from the peddled recovery fiction throughout President Obama's reign...

Joining its Small Cap (Russell 2000) and Tech (Nasdaq) peers, the S&P 500 just plunged back into the red for the year after desperately clinging to it for 3 weeks...