Stock Market Update -Jun 1st

Last week we recovered some of the losses from previous week, but with mixed signals from the market. The S&P 500 closed right at the 1400 level, the Nasdaq recovered most of it's loss, while the DOW is still below the broken up-trendline, so we have some divergence among these indexes, with the DOW being the weakest.

Oil prices retreated a bit, as the US Dollar strengthened. We also saw a drop in Bond prices.

Next week we get the much anticipated monthly Jobs report on Friday. We could see the market continue to reverse the recent rally from the March 17th lows if we get a bad jobs number on Friday.

S&P Sector Performance

News stories:
Oil Can't Rise Forever, So It Stops
Property Pain Past, Present And Future For U.S. Banks
Decline in home prices accelerates in March
Where the Financial Crisis Is Headed Next
The Next Shoe to Drop

Consumer confidence hits 16-year low in May
US and European debt markets flash new warning signals
Euro suffering from 'reserve currency curse' as investors pull out
Time for Goldman to Add Indonesia to the BRICs

Other news:
Touchdown! Phoenix Spacecraft Lands on Mars
Japan man discovers woman living in his closet
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.