Stock Market Blog -Dec 11th

The markets were up slightly this week as Europe managed to push out their crisis to the future once again. Weekly unemployment claims dropped to a 9 month low, while Financials continued to rally.

New all time highs:
ABV, ENB, HANS, IBM, MCD, NKE, QCOR, SWI, ORLN, PGN, ROST, YUM
Pops & Drops:

New Unemployment Claims were down, coming in at 381,000 (chart)
This week, no banks were shut down by the FDIC (list)

Next week: Economic reports
BBY, FDX, RIMM report earnings, and we also have the Federal Reserve meeting.

Market Commentary

The market continued to hold on to its gains from the previous week, which is a good sign. We could see it start working its way above the next resistance level around 1275 on the S&P500 (also near the 200MA). Maybe we'll get a Santa Claus rally -hard to tell at this point. Bonds showed some signs of pulling back this week, which could also be a good sign for stocks.

Why Chipotle Is Going To $400
MercadoLibre: Positioned For E-Commerce Boom

This week's charts:
Chart of the Day -earnings

Commodities (charts):
Oil prices dropped, closing around $99.41
Natural Gas dropped, closing near $3.32
Gold dropped, closing near $1716.80
The 30 year Bond futures fell a bit, closing near $141.16
The US Dollar was up slightly, closing near 78.63

NEWS:
Stocks Log Second Weekly Gain after EU Summit
U.S. stocks end higher, with Dow up 1.4% on week
Jobless Claims in U.S. at Lowest in Nine Months
300 Billion Reasons To Lighten Up On Risk Next Week

Inflation is still the silent killer
Treasury Should Sell Its GM Stake to GM
Secrets of the Bailout, Now Revealed

Brazil's economic growth stalls in third quarter
World Banks In Cahoots To Save Themselves
European summit: Now it's up to the ECB