BIDU hit an all time high this week after reporting earnings (up $90 on Thursday!), while Blackrock (BLK) sold off, along with Goldman Sachs and other financials.
Gold & Silver mining stocks are moving up nicely.
New unemployment claims declined this week, coming in at 448,000 (chart).
This week seven more banks were shutdown by the FDIC! (list).
Next week: We get more economic reports, and more earnings reports.
Earnings reports next week:
| Mon | Tue | Wed | Thu | Fri |
| DNDN,APC,CHK | ADM,DUK,EOG MRO,MA,PFE TEVA,VNO,IPI,MRK | AGU,DVN,RIG LVS,YUM,VALE | EP, | CEP |
Market commentary: The rally faltered last week. We could see more of the same next week, and maybe get a better feel for whether the next trend will be up or down. Based on the high volume down moves we've seen recently, and the huge rally since early February, we could be looking at a new down leg.
Commodities:
Oil prices were up, closing around $86 per barrel.
Natural Gas tumbled to close just under $4.00.
Gold prices were up again, closing around $1180.
The US Dollar index was up a bit, and closed near 82.
The 30 year Bond was up, closing just under $118.
News:
Stocks Tumble In Mixed Trade
Dow starts new downward wave
Baidu's Stock Attracts $1,000 Price Target With Help From Google
China's Baidu announces 10 for one ADS split
Home Sales Pick Up at a Halting Pace
Now It's a European Banking Crisis
Europeans Fear Greek Debt Crisis Will Spread
FDA OKs Dendreon's prostate cancer vaccine
Forget Goldman. Buy gold, man?
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