The market ended more or less flat for the week, after dropping on Friday on news of the Dubai debt problem. We seem to be stuck in a trading range for the past two weeks as investors continue to get more jittery about this market (see chart below).
New unemployment claims for this week came in at 466,000! (chart). -finally under the half million mark, after being above it all year!
No bank shutdowns to report this week! (list).
Commodities: Oil prices continued to fall, closing the week around $76 per barrel. Natural Gas jumped up, closing around $5.20. And we saw record Gold prices again this week, closing around $1174. The US Dollar index was down again, closing around the 75 level. Bond prices continued to rise!
Next week we get the all important monthly 'jobs' report on Friday, a potential market mover.
Market analysis: We seem to be stuck in a trading range for the past two weeks. The market needs some good news if it is to rally any further at this point. Volume seems to be drying up too...
Behind the Great Stock Rally of 2009
Stocks and commodities spooked by Dubai World worries
Gold prices climb above $1,190 on Globex
Central Bank Buying Spurs a Gold Rush
European shares tumble amid Dubai debt worries
As one crisis recedes, the fiscal one may be only beginning
Dollar falls to 14-year low vs yen, touching 86.51
Treasuries Gain Most This Month on Dubai’s Debt Payment Delay
The FDIC Is $8.2 Billion in the Hole
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