The Corrective Phase Continues

Market observations for the week of May 31 to June 4, 2010

Claymore Investments, Inc. 8 June, 2010 | 2:27AM

The major market indices finished the week with moderate losses. Trading remained choppy as investors tried to determine what is discounted in the markets and what is coming to fruition.

This price discovery process, will likely remain in play until further clarity emerges on how the European financial crisis has impacted the global economy. This could take several weeks, in my opinion, and will likely be centered on second quarter earnings season (which unofficially kicks off on 7/12) to see if the problems in Europe have filtered through to corporate earnings.

Adding to the negative tone last week were rising political tensions in the Middle East and the Korean peninsula as well as the uncertainty surrounding the potential economic and political impact from the Gulf oil spill.

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Claymore Investments, Inc.

Claymore Investments, Inc.  

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