AMZN, BIDU, CMG, FB, GOOG, and NFLX hit new all time highs. IBM and UNH dropped after reporting earnings (This was the sixth quarterly decline in a row for IBM’s revenues ).
New all time highs: IWM, SPY -AXP, AMZN, BIDU, CELG, COP, CMG, GILD, GOOG, FB, NFLX, SBUX, V and more...
All time lows: JCP,
Pops: AAP, AMZN, GOG, CMG, SNDK Drops: ARIA -again, UNH
Next week: Economic reports Tuesday -overdue monthly jobs report
Earnings next week:
Mon -DFS, MCD, NFLX, TXN, VMW
Tue - AMGN, TRV, UTX, FCX
Wed - T, BA, CAT
Thu - AMZN, F, MSFT, MMM,
Fri - PG, UPS, SPG
| Market Commentary |
We got another big rally this week with the S&P500 now hitting all time highs. Next week will be another big week for earnings. As volatility drops back to the low end, maybe we'll see a setup for another pullback, and a time to book some profits. Some of the DOW stocks are very richly valued too. The gold mining stocks started to lift from a long sell-off this week so keep an eye on them too (or the ETFs like GDX, GDXJ).
This week's charts:
10yr Interest Rates
Labor Force Participation Rate (10yr chart)
Commodities/Futures (charts):
Crude Oil dropped, closing near $100.81 -still over $100
Natural Gas dropped a bit, closing near $3.76
Gold rallied, closing at $1314
The 30 year Bond rallied, closing near $134.09
The US Dollar dropped, closing near 79.72
NEWS:
Will Earnings Season Kill the Stock Market Rally?
Google tops $1,000 after blowout quarter
Apple's iPad problem: A 27% sales drop
Buckle up: Here come the economic data
JPMorgan close to $13 billion mortgage settlement
Is Nike A Decent Long-Term Buy?
Why Are Solar Stocks Taking Off?
Gas Prices Could Dip Below $3 by Year-End: Lutz
China logs best growth so far this year
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