Join        Login             Stock Quote

Too Late For a Little Weekend Reading?

 May 05, 2008 01:51 PM

I know it is no longer the weekend, but the intent was that this article would have been posted Saturday morning at Investools.com. Enjoy.

Updated Tuesday, Thursday and Saturday morning, pre market
Friday's Close for May 2nd, 2008
by Jeff Kohler

It's a Friday night and I find myself ready to relax from an exhausting, exciting, and productive week. Yet joyfully, here I am. Let's re-cap what has been accomplished over the last week:

[Related -Sobering Quarter and Guidance for Long-Time Apple Bull]

This was a particularly important week for the market as the focus shifted from corporate profits to an "all eyes on the Fed" event on Wednesday. The fed funds rate and the discount rate were both cut by .25 basis points, and after positive news on GDP, personal spending, factory orders and employment numbers, the market is starting to believe that interest rates have reached their ultimate destination and the next move by the Fed will be to do nothing at all. If this is the case, the market will continue to respond in a bullish fashion.

As a result the dollar has strengthened, and commodity prices have slipped slightly this week. Gold is now trading at $858 per ounce and oil is trading north of $116 per barrel.

[Related -What does Istanbul have to do with AAPL?]

In the end, the result was a positive one as the markets finished higher on the week. The Dow Jones Industrial Average posted a 1.3% gain, while the broader market, represented by the S&P 500, closed out the week with a 1.1% gain. Technology continues to lead the way despite a horrendous earnings report from Sun Microsystems (JAVA -23%) on Friday. However, the NASDAQ still managed to finish with a 2.2% gain on the week.

Next Page >>1234
iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.