AAPL, AXP, CAT, F, KO, MMM, QCOM, T, UPS, VMW, VZ, all rallied on earnings.
AMZN dropped $15 after reporting earnings, but recovered most of the loss.
YHOO also disappointed.
Lots of New All Time Highs this week! AAP, AZO, CRM, CTSH, FFIV -bonds AGG, LQD
New unemployment claims jumped, coming in at 464,000 (chart).
This week, seven banks were shutdown by the FDIC! (list).
Next week: We get the usual Economic reports, along with more earnings reports. Also, the Treasury will sell another $100 billion plus in bonds next week. Some of the companies reporting earnings:
| MON | TUE | WED | THU | FRI |
| DB | BA | ABX | MRK | |
| DD | COP | XOM | CVX | |
| ODP | MOT | |||
| VLO | POT | |||
| BP | SNE |
Market commentary: The market will be driven by earnings again this week and we could see the rally continue, up to the mid-June high. The indexes , along with many stocks appear to be in an ABC up pattern.
Commodities (charts):
Oil prices rallied, closing near $79 per barrel.
Natural Gas was up, closing around $4.56.
Gold was mostly unchanged, closing around $1188.
The US Dollar index was up and down, closing around 82.50
The 30 year Bond dropped, closing just over $127.
News:
US Stocks Have Second Best Week of the Year
American Express Q2 Profit Triples, Beats Estimate
Is the Next Leg of the Bull About To Begin?
White House: Unemployment at 9% until 2012
Jobless benefits restored for millions
Federal budget deficit to exceed $1.4 trillion in 2010 and 2011
Commercial Real Estate's Death Knell May Have Been Premature
Bullion buyers bank on gold coins
What the bond guru sees coming
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