New all time highs: BIIB, CVX, NUAN, NKE, QCOR, RHT, LQD
New all time lows: QID, SPXU, ERY, FAZ (inverse ETFs for the major indexes, oil, financials)
Drops: AMZN, NFLX
New Unemployment Claims were down, coming in at 402,000 (chart)
This week, another bank was shut down by the FDIC (list)
Next week: Economic reports We get the big jobs report on Friday, and a Fed meeting on Wednesday. Earnings season continues, with the following companies among those reporting:
MON: HUM
TUE: PFE, MRO, VLO
WED: MA, WFM
THU: APA, CHK, DUK, DTV
FRI: TM
| Market Commentary |
We got up past the 1250 level on the S&P500 that I mentioned last week. After such big run, a pullback is expected, then I think we get a resumption of the rally into year end. Europe seems to be driving the markets though, so expect anything! Also watch for the jobs report on Friday.
This week's charts:
October rally!
Commodities (charts):
Oil prices were up, closing around $92.5
Natural gas was up, closing near $3.93
Gold rallied, closing near $1711
The 30 year Bond futures were down, closing near $136.90
The US Dollar was down, closing near 76.25
NEWS:
S&P 500 Extends Best Month Since ’74, Euro Rises
National debt nears size of U.S. economy
Credit-Default Swap Risk Bomb Is Wired to Explode: Mark Buchanan
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Nifty PSU Bank gains 1% led by Canara Bank, Bank of India, Union Bank Mcx tips
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