Stock Market Blog -Oct 5th

The market saw a big drop on Wednesday, then reversed on Thursday & Friday with a big rally, but ended the week lower! The unemployment rate dropped to 5.9% -not sure how meaningful that is though, because of the way it's calculated, and a lack of wage growth, and the continued weak participation rate.  Looking at the chart of the S&P500, the recent downtrend is still intact -we closed below the 50MA this week too.

The US Dollar continued to rocket higher, sending Gold lower still. Oil was down as well.



New all time highs:     AGN, COV, CCI, CP, GPN, HAIN, NKE, PANW, 
All time lows:   ANR, SDT, PWE
Pops:    EBAY     Drops:  , 
Next week:  Economic reports,  Fed meeting minutes, 
Earnings:     AA,  COST,  FDO, MON, PEP, YUM

This week's charts:
Natural Gas was unchanged, closing at 4.04
Gold was down, closing at $1192 -it made it under 1200!
The 30 year Bond was up, closing near 139.22
The US Dollar was up again, closing near 86.82 -strong rally!

NEWS:
EBay spinning off PayPal as separate company (vid)
Facebook Is Emerging As A Huge Engine For Driving E-Commerce Traffic...
HP to split into two companies, report says
Apple planning Oct. 16 iPad event - report
JPMorgan hack affected 76 million households, 7 million SMBs
Millions of Devices are Vulnerable to the Shellshock Bug
UPSET: Pro-Business Candidate Aecio Neves Makes Runoff In Brazilian Election


Posted by 123Trader

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