C and HD were up nicely.
All time highs: CAR, CAT, COH, CRM, CY, ESRX, FFIV, LULU, RAX, SINA, WLT
ALL TIME LOWS: FAZ, DXD, SDS, QID, TZA -leveraged market indexes!Continue to avoid these things.
New unemployment claims for the week rose unexpectedly to 421,000 (chart).
This week, two more banks were shut down by the FDIC! (list).
Next week: (Economic reports link). Also Friday, Options expiration for the month and the
quarter, and of course, year end.
We also get earnings reports from BBY, FDX, GIS, and ORCL.
Market commentary: This week the market continued to rally a bit. I'm looking for the year-end rally to continue, and for the S&P to move up to 1300 on this rally -probably in January sometime. The DOW is still playing catchup to the other indexes, with the small-cap Russell leading the way.
Also note that the QQQQ is now almost at a 3+ year resistance high from Sep '07.Commodities (charts):
Oil prices dropped a bit, closing near $87.80 per barrel.
Natural Gas was up then pulled back, closing near $4.40.
Gold dropped, closing around $1384.
The 30 year Bond dropped sharply, closing near $123.
The US Dollar index was up, closing around 80.
Commodities topping? ...Bonds continue to drop...News:
US Stocks Close Friday With Biggest Gains Of Quiet Week
U.S. Stocks Advance After Consumer Confidence Report, GE's Dividend Boost
Financial sector adds to gains
Treasuries Drop, S&P 500 Gains as Economic Data Top Forecasts
U.S. Home Values to Drop by $1.7 Trillion This Year, Zillow Says
U.S. trade deficit narrows to $38.7 billion
National Deficit Grows on Higher Government Spending
Programmer Convicted of Stealing Trade Secrets from Goldman Sachs
Consumer sentiment rises in December
Shares of A&P plunge on bankruptcy talk
China's Inflation Tops 5%, Adding Pressure for Wen to Raise Interest Rates
Posts
No comments:
Post a Comment