IBM got a big boost as it announced more stock buybacks, while Dell fell as they reported less than stellar earnings this week.
Oil finally closed the 'week' over $100 per barrel, while Gold continued to move higher closing the week around $975 per ounce -looks like we will see $1000 soon! The US Dollar lost more ground again this week!
In case you missed it, last month the DOW got 2 new additions and 2 removals: Bank of America and Chevron were added, as Altria (formerly Phillip Morris) and Honeywell were removed -I guess they are no longer relevant for the DOW index!
Next week: We can probably expect more of the same choppy action. Friday's monthly payroll report may give the market a jolt in one direction or the other. Continue to be cautious here.
News Stories:
Brutal selloff on Wall Street
Home prices post first yearly drop in 16 years
Home prices plunge at record rate in 2007: S&P
One in 10 home loans is under water
More Pain for Fannie and Freddie?
AIG posts $5.3B loss in 4Q
11 reasons Bernanke's recession lasts till 2011
Financial Firms Face $600 Billion of Losses, UBS Says
Digging out from under debt mountain
Market's rally is really a trap
Dollar Sinks to New Low Against Euro
Oil Hits Record $102 As Dollar Tumbles
Gold hits new record of $975 on dollar's tumble
Brazil becomes world's biggest emerging market
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.
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