Stock Market Update -Oct 19th

The week started off on Monday with the biggest jump in the DOW ever! We closed the week with a welcome gain, though not without the highest level of volatility ever seen. As the US Dollar climbs, Oil prices continue to drop ($71), along with Gold and other commodities.

The government announced that they would be buying ownership in banks to help ease the credit crisis. Google announced great earnings, helping the tech sector to recover a bit, while the financials gave up most of their Monday rally. The debt clock stands at $10.355 trillion this week.

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Big earnings week ahead with reports from companies like AAPL, MSFT, AXP, MCD, CAT, PFE, MRK, and MO. I continue to believe that we are near a turning point in the market at these levels. Interesting to note, the market topped on 10/10 last year, and it looks like it bottomed on 10/10 of this year!

Europe comes to the rescue
Europe puts more on the line for banks than US
Bush to announce expanded bank bailout details
Circuit City may shut stores to avoid filing
Dow off 127; have stocks bottomed?
Google Crushes Wall Street Estimates
Buffett says buy

Be ready for the commodity comeback
The next crisis: The economy
Housing starts hit another 17-year low
Mortgage rates headed to 7%
Coming Soon: The $600 Trillion Derivatives Emergency Meeting
AIG takes $122.8 billion of taxpayer money, enjoys luxury resorts
Stocks and Indexes mentioned in this blog are for educational and illustration purposes only.