New Unemployment claims for this week rose to 531,000 (chart).
(still over the half million mark every week)
Seven more banks were shutdown by regulators this week! (list).
Commodities: Oil prices continued to rise, closing the week around $80 per barrel. Natural Gas remained in a trading range, closing around $4.80. Other commodities rose too (gas, corn, soybeans, wheat, etc).
The US Dollar stabilized a bit, keeping Gold prices in check as well. Bond prices fell further (higher long term interest rates).
Next week we get another barrage of earnings reports, including some of the large oil companies. Also the 3rd quarter GDP report on Thursday, which could be a market mover! This one could be a big disappointment.
Another huge week for government borrowing too, as over $100 billion in bonds will be issued next week. We could see another 'market down, prop up the bonds' week...
Market analysis: We had very strong earnings last week, but the market stumbled. We could see more of the same next week. During earnings season, it's difficult to gauge market direction with any real degree of accuracy so again, be careful. We could see some more downside action.
Dow 10,000: Show Me the (Real) Money
The Stock Market Has Never Been This (Intermediate-Term) Overbought
Lost Decade Is Heading Toward Two-Decade Mark
How Apple is gaining on Microsoft
Amazon shares hit all-time high
Leading indicators up 1% in September
Home sales rise 9.4 pct. in Sept., beat forecast
Keeping up with an avalanche of troubled mortgages
Investing in Bonds
What Bubble? Commodities Rally Is Still Far From Over
Goldman Sachs Is Robbing Us Blind
Preventing the Next Financial Crisis
U.S. maxes out on credit
Dollar Depreciation: Denial or Acceptance?
Follow The Money Into Emerging Markets?
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