Stock Market Blog -Nov 4th

The market was undecided this week as it rallied, then crashed right back down. Hurricane Sandy shut down the markets for 2 days, as it wreaked havoc in New Jersey and New York. We got a better than expected monthly Jobs report on Friday, but the market then promptly sold off the rest of the day.

The US Dollar rallied, and Gold dropped under $1700. SBUX, PCLN, and V  popped after reporting earnings. AAPL continued to drop, now 6 weeks in a row!

New all time highs: CMCSA, COG, DFS, EXPE, JDAS, KORS, PVH, V, WRC
All time lows: GRPN
Pops: JDAS, PCLN, SBUX, TRIP, WRC
Drops:  FFIV, NEM, YELP

AAPL -4 weeks of declines (post iPhone5 top)  -last week, 5th week down! -now 6th week down!

Next week: Economic reports 

Earnings reports next week:
 DIS reports on Thursday.

Market Commentary

The election results next week will probably impact stock prices. We're still testing support at 1400 on the S&P500. I would wait till after the election before trying to determine the next move in the markets.

This week's charts:

Weekly Unemployment claims
S&P 500 -heading down further?
OptionsMakeSense

Commodities/Futures (charts):
Crude Oil dropped, closing near $84.94
Natural Gas was up, closing near $3.52
Gold dropped, closing near $1683
The 30 year Bond was mostly unchanged, closing near $148.44
The US Dollar was up, closing near 80.67

NEWS:Job growth, unemployment rate rose in October as workers re-entered labor force
Starbucks Jumps as Profit Increases on U.S. Sales Gain
Inside Apple's major shakeup
What’s dragging down the U.S. economy?
Swiss Bank UBS To Lay Off 10,000 Employees
Japan is in worse than a deflationary trap