Gold continues to climb too, hitting another record high this week.
Citi's stock can't seem to move up past $5, so they are doing a 10 for 1 reverse stock split to get the price up close to $50! You can fool some of the people some of the time...
RIMM dropped on earnings, while ORCL was up after reporting their earnings.
New all time highs: ABC, BIDU, CAT, CSX, CVX, CTSH, DTV, SINA
New unemployment claims dropped to 382,000 (chart).
This week, one more bank was shut down by the FDIC! (list).
Next week: (Economic reports link). The big news next week will be the monthly Jobs report on Friday. We also continue to watch events in Japan, Libya, and Europe -and now Syria and Israel too.
Market commentary: The market has rallied back from the dip we saw in the first half of this month. Being the end of the quarter this week, I expect we will see some more positive movement for now. Oil might be doing a 'double top' for now.
Commodities (charts):
Oil prices rallied, closing just above $105 per barrel.
Natural Gas rallied (finally!), closing near $4.40
Gold rallied, closing near $1426
The 30 year Bond dropped, closing near $120.
The US Dollar was up a bit, closing just over 76.
News:
U.S. stocks notch weekly gains
Citigroup Announces 1-for-10 Reverse Split
Sales of new U.S. homes tumble 16.9% to record low
Consumer sentiment falls sharply in March
iPad 2: Out of stock by Saturday
Michael Dell’s Very Big Stock Purchase
Gold futures notch record high
Another eurozone crisis is coming – this time it's Portugal
Japan reports rise in radioactive seawater
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