Was today the end of the market wobble?

Was today the end of the market wobble?

Today the Standard & Poor’s 500 stock index added 0.8%, the Nasdaq Composite climbed to a new all time high and the Russell 2000 small cap index rose 1.6%.The action put an end to what I’d call a “market wobble” that had seen the S&P 500 fall in four of the last five trading sessions. Volatility had been rising during that period with the implied volatility in the S&P 500 futures market climbed to plus/minus 30 points for this week from just plus/minus 20 points last week. But the very solid move today says that “Buy on the Dip” remains in force.

Notes You Need for November 3: Japan rally, utilities, rig count, tax cut deficit, QCOM buyout rumor, NXPI, dollar, gold, oil prices

Notes You Need for November 3: Japan rally, utilities, rig count, tax cut deficit, QCOM buyout rumor, NXPI, dollar, gold, oil prices

In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don’t justify a full post. I’ve decided to start compiling these notes here each day in a kind of running mini blog that I’m calling Notes You Need. Items in this mini-blog include mentions like this one: “10:20 a.m.: Japan’s stock market was closed today but the Nikkei 225 index gained 2.4% for the week continuing its post-election run higher.”

Abe speech tomorrow expected to announce plan to push public pension funds out of Japanese government bonds and into stocks and overseas assets

Japan’s Prime Minister Shinzo Abe is scheduled to speak tomorrow in Tokyo. Expectations are that he will announce plans to move a big chunk of Japan’s public pension funds—with about $2 trillion in assets—out of Japanese government bonds and into domestic stocks and overseas assets.

Toyota says it will get back to full production by December and Japanese stocks rally

Automakers led Japanese stocks higher today after Toyota Motor (TM) said it expects car production to return to normal by December at the latest. The company expects to begin raising production to regular levels beginning in July in Japan and in August at overseas plants as it recovers from supply-chain disruptions caused by Japan’s earthquake and tsunami.