IBM on the other hand continued to hit all time highs, and ORCL is hitting highs not seen in 10 years. ISRG popped on earnings; also GE.
Gold and Silver dropped this week too, while Bonds have been in a trading range for the past month.
The Year's Best Stocks (2010)
Meanwhile, the Small Caps and the Nasdaq 100 are showing some weakness...
New unemployment claims dropped to 404,000! (chart).This week, four more banks were shut down by the FDIC! (list).
Next week: (Economic reports link). Next week we get lots of earnings reports, to include:
Mon: AXP, HAL, MCD, TXN, VMW
Tue: DD, JNJ, MMM, TRV, JNPR, YHOO, VZ
Wed: BA, COP, NFLX
Thu: T, CAT, MO, AMZN, MSFT, POT
Fri: CVX, F
Market commentary: Earnings reports will continue to drive the market next week. So far, we have seen some of the high fliers losing ground, and the market starting to weaken. If I were to pick a direction, it would be to the down side.
Commodities (charts):
Oil prices were lower, closing around $89 per barrel.
Natural Gas was up, closing near $4.75.
Gold saw a large drop, closing around $1341.
The 30 year Bond dropped a bit, closing near $120.
The US Dollar index dropped, closing around 78.25.
News:
U.S. Stocks Decline, S&P 500 Ends Longest Weekly Winning Streak Since 2007
Economy Probably Sped Up as U.S. Consumer Spending Rose Most in Four Years
Bank of America Posts $1.6 Billion Earnings Loss
U.S. debt crosses $14 trillion mark for first time
Gold, silver settle lower on optimism about economy
Rising commodities prices loom
Will the Economic Recovery Slide on $90 Oil?
A Path Is Sought for States to Escape Their Debt Burdens
Facebook raises $1.5 billion
Big tech is beautiful
There Are No Pros in Financial Planning
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