Commodities: Oil prices are still holding around $50 per barrel, while Gold prices dropped further, closing near $868. The US Dollar index is gaining ground again, while Bonds look like they want to fall further (resulting in higher interest rates).
Next week we get earnings reports from some of the big companies like BAC, AXP, WFC, MS, IBM, MSFT, AAPL, KO, MCD, F, CAT, FCX, and lots more. This will be a big week for earnings, with many companies reporting.
Market outlook: We made it up to the 875 level in the S&P500 that I mentioned last week (see chart above). It's anyones guess as to whether it will now continue straight to the January high of 943, or whether it will pull back first, but I believe that is where we are headed (I think it will pull back first).
The Next Leg up in Financials
U.S. Aims to Release Bank Stress-Test Results May 4
Latest Jobs, Housing Reports Show Recession Isn't Over
General Growth Files Biggest U.S. Property Bankruptcy
Volcker: Recovery will be a 'long slog'
US foreclosures up 24 percent in 1st quarter
Taxing Grandma to Subsidize Goldman Sachs
Wells Fargo’s Profit Looks Too Good to Be True
Currency Illusions and the Gold Price Suppression
Dollar’s Fade Won’t Support Stock Rally
Averting Depression as Consumer in U.S. Fades
Posts
No comments:
Post a Comment