Stock Market Blog -Jul 7th

The week was positive for the market, with some help from the monthly Jobs report on Friday. Bonds and Gold continued to drop. Oil prices were up after the tensions and overthrow of the government in Egypt. Things seem to be stirring up in Europe again too (financial matters that is...), while China seems to be slowing down.

New all time highs:   DFS, DLPH, STX, SBUX, V, WFM
All time lows:  -- NBG
Pops:  , -Drops:  ,

Next week: Economic reports 
Upcoming Earnings reports:   AA, JPM, WFC, YUM

Market Commentary

 
The market rallied after the Jobs report, and got over the congestion level, so we could see more up-side. If the rally continues this week, we'll probably re-visit the mid-June highs again. Earnings reports will be the next catalyst for the markets.

This week's charts:

Weekly Unemployment claims
S&P 500 -moving up

Commodities/Futures (charts):
Crude Oil was up, closing near $103.22 -over $100!
Natural Gas was flat, closing near $3.61
Gold plunged again, closing at $1212
The 30 year Bond dropped again, closing near $132.65!
The US Dollar rallied, closing near 84.69

NEWS:
Stocks Surge 1% on Strong Jobs Report; Dow Reclaims 15,000 Level
Yields Soar as US Jobs Data Stokes Fed Fears
How Much Pain Will Bond Investors Tolerate?
One Eye on Earnings, the Other on Bonds
Don’t Get Too Excited About Today’s Jobs Data