New all time highs: DLTR, MCD, PAR, INTU, CRM, EGO, SLW,
New unemployment claims fell back below the 500,000 level to 473,000 (chart).This week, no banks were shutdown by the FDIC! (list).
Next week: We get the usual Economic reports, along with the widely watched, monthly jobs report on Friday (week ahead)
Market commentary: Looks like we could still drop down to test the early July low, though we saw a nice rally on Friday. We'll need to see some follow-through to get bullish again. The jobs report on Friday could finally help push the market into a new trend.
Bonds continue to rally!
Commodities (charts):
Oil prices were up, closing near $75 per barrel.
Natural Gas plunged, closing under $3.70; we could see a bounce next week.
Gold rallied, closing around $1237.
The US Dollar index was mostly unchanged, closing around 83.
The 30 year Bond rallied again, but dropped back down to around $134.
News:
U.S. economic growth slows to 1.6% in second quarter
Debt crisis just beginning, Morgan Stanley says
Intel cuts sales forecast citing weaker consumer PC market
Foreclosures drop, but new delinquencies rise
Existing-home sales plunge 27.2%
New-Home Sales Plunge 12.4% to All-Time Low in July
Housing's new nightmare
Fed ready to take 'unconventional measures'
Big investors go for gold, bonds
The Looming Battle for the Future of Mobile Devices
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