CRM surged on a good earnings report.
New unemployment claims for the week dropped to 439,000 (chart).This week, three banks were shut down by the FDIC! (list).
Next week: (Economic reports link). Short holiday week -Happy Thanksgiving!
Among companies reporting earnings next week: HPQ
Market commentary: The market dropped, then recovered on the GM IPO hype. There is a good chance that the market continues to move up from here, as it bounced off a support level. If you take long positions, keep your stops in place in case the rally fades back down.
Commodities (charts):
Oil prices dropped, closing near $81.50 per barrel.
Natural Gas rallied, closing at $4.15.
Gold dropped, and closed around $1352.
The 30 year Bond was down, closing near $127'07.
The US Dollar index was up slightly, closing around 78.60.
News:
Street ekes out weekly gain
GM debut weak, but analysts say that’s good
Municipal Funds Fall Most in Two Years as Bonds Drop, Borrowing Costs Rise
Inflation at lowest level since 1957
Signs that the Economy Is Better Than You Think
Ireland requests tens of billions in loans from EU
After Ireland, spotlight on Portugal, Spain
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