The Friday Late Post

Saskatchewan Screamer Reaches East;Patrick Takes Daytona Pole

2012-02-24T21:22:00.008-08:00

A late winter storm,the Saskatchewan Screamer,has reached the East coast,giving Connecticut five inches of snow and knocking power out.It had been moving across Colorado and the Dakotas,where it left more than nine inches of snow.It then dropped hail on Georgia and high winds on Alabama,where it ripped off a school roof while 62 children were inside,but escaped unhurt.
Winds from the Saskatchewan Screamer could top 50 mph,or 80 kmh,this weekend,threatening more power lines and disrupting air travel.At 5:16 pm,the Screamer's winds were noted arriving on the Maryland/Pennsylvania border.They were noticeable,but not catastrophic at that point.Winds could reach up to 60 mph,or 96 kmh.
Danica Patrick came back from crashing Thursday to win the pole position on Friday for Saturday's DRIVE4COPD 300 NASCAR Nationwide Series race.She was in her backup car after hitting the wall,caught up in someone else's crash the day before.Patrick is the first woman to take the pole at a NASCAR race since Shawna Robinson in 1994.In the Sprint Series Daytona 500 on Sunday,Patrick will start in 29th position out of 43 because of Thursday's crash.She left Indy car racing to concentrate on stock cars this year,having been the first woman to win an Indy car race and achieved a third place finish at the Indy 500-the best ever by a female driver at that event.
The stock market logged a slight gain for the week,with the S&P 500 Index gaining 0.33%.Volume was extremely light as traders hesitated in the face of headwinds such as the Iranian crisis and a drop in new home sales.
Next week,the calendar has many data points to contemplate,such as durable goods orders,auto sales,the GDP reading,and manufacturing numbers from the Institute for Supply Management.There will also be a European Union summit on Thursday.The S&P futures rose 0.40 Friday evening,and longer maturity bond index futures gained as well.
Update:Danica Patrick finished 38th after being bumped by another car in Saturday's Nationwide Series race at Daytona,having started in the pole position.She will start in 29th out of 43 in Sunday's big Sprint Series Daytona 500 race.The Sprint Series is the major NASCAR racing series.
The Saskatchewan Screamer left property damage from Ohio to Pennsylvania.In Prince George's County,Maryland,seven firefighters were burned when high winds from the Screamer caused a fireball to form while they were fighting a house fire.The oxygen in the wind literally ignited during the house fire.Two of the firefighters were severely burned by it.
Update 2:The Daytona 500 was postponed because of rain.They will try again Monday at noon,but there is more rain in the forecast.

Knicks Lose;Market Logs Modest Gain

2012-02-17T21:33:00.000-08:00

Jeremy Lin could not get his team to victory Friday night as the New York Knicks lost to the New Orleans Hornets at Madison Square Garden.The 89-85 loss breaks a 7-game winning streak that saw the celebrated point guard emerge from media obscurity.The full glare of the spotlight will be on Lin Sunday as the Knicks play on national television.The game will be carried by ABC beginning at 1 pm Eastern.
Commentator and NBA legend Magic Johnson was critical of Lin's performance.He's got to get a better understanding of the point guard position,Johnson feels.You've got to turn to Amare Stoudemire,who scored 26 points on the night along with Lin.Lin's job is how to win tonight,turning the ball over to Carmelo Anthony and Stoudemire.He must not get caught up in the hype.This was great for Jeremy Lin tonight.It's not all gonna be well.I just want him to go back and watch the films and get better for Sunday,Johnson counseled.
Lin turned the ball over to the Hornets nine times-the worst in his career.
The market did well this week,adding a modest 1.38%,or 8.24 on the year.Positive manufacturing reports from the Empire State and Philly Fed led the way,and hope for a Greek debt deal also assisted.
Next week will be conditioned by the Greek outcome,as well as earnings reprts from Wal-Mart,Home Depot and Hewlett-Packard.In additon,home sales and consumer sentiment numbers will be released.
The S&P futures added 4.89 ahead of the long Presidents' Day weekend,and bond index futures declined.
Wal-Mart(WMT),Home Depot(HD),Hewlett-Packard(HPQ)

Knicks Win,Electric Lin

2012-02-10T21:17:00.000-08:00

The New York Knicks' Jeremy Lin was described by his coach Mike D'Antoni as being just an unbelievable point guard,and he certainly justified that description Friday night as he led the Knicks to a 92-85 win over the Los Angeles Lakers at Madison Square Garden.The amazing rookie scored a career high 38 points.
A product of Harvard University,the Asian American said I'm just gonna thank my teammates.It's fun just to play basketball with these guys.I'm just thankful to God.This is my dream.
Surrounded by the media,lionized by fans chanting "MVP" and even congratulated by Lakers players after the game,it could scarcely get more intense for the young man,who has four consecutive 20+ point games to his name,all of them Knicks victories.
The stock market,haunted by Greek troubles and a decline in consumer confidence,did not fare as well.All three major averages declined slightly on the week,with the S&P 500 Index stepping down 0.17%.For the year,the S&P remains in the green,up 6.76.The CBOE VIX Volatility Index climbed 21.58 on the week,signaling a resurgence of fear among the traders.
Next week,the market will deal with a number of reports,including the Empire State and Philly Fed manufacturing readings,as well as the Leading Economic Indicators and retail sales.General Motors,HJ Heinz and Campbell Soup will issue earnings figures.
The S&P futures lost 7.70 Friday evening,while bond index futures gained.
HJ Heinz(HNZ),Campbell Soup(CPB),General Motors(GM)

Celtics Continue Streak;Economy Looking Strong

2012-02-03T21:01:00.000-08:00

The Boston Celtics won their third game in a row Friday night at TD Garden in Boston,edging past the New York Knicks 91-89.Ray Allen put Boston ahead with a three-pointer in the 4th period,followed by another three and a two.
The Celtics defense stopped the Knicks in the second half.Our defense is keeping us around the game,Boston coach Doc Rivers told his team.Your energy is good.
The Celtics have won seven of their last eight games.Carmelo Anthony has returned to the court for the Knicks,but his 26 points on the night weren't enough to overcome the Boston defense in the second half.
The Denver area is overcoming something most of the rest of the country hasn't seen much of this winter: heavy snow.Denver itself reports 13 inches of accumulation,but the foothills of the Rockies west of the city got up to four feet,or just over one meter of snow.
The market had a smooth journey on Friday when the unemployment rate dropped to 8.3% for January-its lowest level since February 2009,and the economy added a better than expected 243,000 jobs.The Institute for Supply Management also reported bigger than predicted growth in both the manufacturing and service sectors for January.For the week,the S&P 500 Index rose 2.17%,yielding a gain of 6.94 on the year.
Next week,earnings season continues with data coming in from Disney,Coca-Cola,PepsiCo,Visa and Time Warner Communications.Consumer sentiment will be reported on Friday.
The S&P futures climbed another 16.40 Friday evening,while bond index futures dropped.
PepsiCo(PEP),Coca-Cola(KO),Disney(DIS),Visa(V),Time Warner Communications(TWX)

Heat Hot;Market Cool

2012-01-27T20:25:00.000-08:00

The Miami Heat overpowered the New York Knicks 99-89 Friday night at American Airlines Arena in Miami,bringing their record up to 14-5.After missing six games with a bad ankle,Dwayne Wade returned to the court for Miami.The story here is Dwayne Wade,said commentator and NBA great Magic Johnson.He makes everybody on the Heat team that much better.Wade scored 28 points on the night.
New York's Billy Walker was outstanding from a distance,shooting a career high seven three-pointers,ending up with a total of 21 points.As a team,the Knicks hit a remarkable 18 threes on the evening.They did little else well,however,missing their star Carmelo Anthony,who was sidelined with wrist and thumb injuries.
The market was nondescript this week,with the broadly based S&P 500 Index basically flat with a tiny weekly gain of 0.07%.Several mixed earnings reports were received from the likes of Ford,3M and AT&T,and GDP growth was a disappointing 2.8,missing the estimate of 3.0 for Q4 2011.So far this earnings season,only 59% of reports have exceeded estimates,which is below average.
Next week,earnings from Exxon Mobil,Pfizer,Qualcomm and Sony are on the calendar,as well as the important monthly readings from the Institute for Supply Management and the January employment report.The sports scene will be in the grip of pre-Super Bowl excitement as the New York Giants and New England Patriots complete their preparations for the mega American football game.
The S&P futures dropped 2.80 Friday evening,and bond index futures rose.
Exxon Mobil(XOM),Pfizer(PFE),Qualcomm(QCOM),Sony(SNE)

Market Strong;Lakers Weak

2012-01-20T21:22:00.000-08:00

The market turned in a strong scorecard on Friday.Although trading volume remains thin,all the major averages gained more than 2% for the week.The Dow added 2.40%,while the NASDAQ notched 2.80 and the S&P climbed 2.04.The tech sector powered the rally on good earnings reports from Intel,IBM and Microsoft,although Google issued a poor one.The market was also cheered by a positive existing home sales number,up 5% to an 11-month high.
The Los Angeles Lakers were not cheerful on Friday night,however.Their road record fell to 1-6 as they were held to a season low 80 points by the Orlando Magic in Florida,falling by a score of 92-80.Dwight Howard led the Magic with 21 points and 23 rebounds,while Kobe Bryant continued his excellent season for the Lakers with 32 points.Howard attributed their success to the fact that they decided to play good defense,and his offensive approach was just to attack.
Commentator and former NBA star Magic Johnson noted that,although the Lakers were shooting 28%,they continue to shoot jump shots.I don't understand that.A lot of guys are open for a reason.When you struggle,you've got to take it to the basket,Johnson said.
The market will have plenty to digest next week as a torrent of data and earnings reports pour in.McDonald's,Apple,Procter&Gamble and AT&T are among the giant companies reporting,while durable goods,new home sales,consumer sentiment and Leading Economic Indicators figures will also be released.Europe and Iran may continue to factor into trading as well.
On Friday evening,the S&P futures edged up 0.40,and bond index futures fell.
McDonald's(MCD),Apple(AAPL),Proctor&Gamble(PG),AT&T(T)

Processed Meat and Cancer:What To Remember

2012-01-14T19:47:00.000-08:00

The most important thing to remember is,it isn't the meat itself that raises cancer risk;it's the sodium nitrite-the chemical most commonly used to preserve the meat's color and freshness.Sodium nitrite can in turn form the carcinogen known as nitrosamine-especially when cooked at high heat,such as in frying or flame broiling,and subjected to our stomach acid.This has long been known with regard to colon cancer.The new study from Britain mentioned below now links processed meat to pancreatic cancer risk as well.
Completely understanding the complex chemistry of food additives probably isn't in the future of most of us.What we all can understand is,an extra risk,however small,may have been resulted in by their usage.
Probably few people will totally change their diets over as small an extra risk as this.They may cut back a little,though.In any event,the food industry needs to get on this and start researching a substitute for sodium nitrite,if it isn't already doing so.They owe it to their customers and themselves.

Bacon, Sausage Linked To Cancer Risk - Boston News Story - WCVB Boston

2012-01-14T19:43:00.000-08:00

Bacon, Sausage Linked To Cancer Risk - Boston News Story - WCVB Boston

Celtics Rally,But Not Enough

2012-01-13T21:18:00.000-08:00

The Boston Celtics staged a spirited rally against the Chicago Bulls Friday night,but could not close the deal in the end,losing by a score of 88-79.At one stage of the game,they had been down by 20 points,but climbed to within one point of the Bulls in the 4th quarter.
The win moved the Bulls to a record of 11-2,with seven of their wins on the road.Celtics coach Doc Rivers said we're a defensive team.We've got to get stops.That's the game.Commentator and NBA legend Magic Johnson described the Celtics as being too old and non-athletic.It doesn't look good.
Standouts at the TD Garden matchup in Boston included Derrick Rose of Chicago with his 25 points;and Ray Allen,who notched 16 points for the Celtics.
Stocks closed modestly higher for the week,with the S&P up about 1%.The S&P futures closed down 3.30,however,as Standard&Poor's announced it had downgraded the credit of France,Spain,Italy and others.Bond index futures rose.
A number of the financials will report earnings next week,including Citigroup and Goldman Sachs,as well as GE,which gives its results out on Friday.U.S. markets are closed Monday for the Martin Luther King holiday,but global markets will be open.
General Electric(GE),Citigroup(C),Goldman Sachs(GS)

Market and Arkansas Razorbacks Achieve Goals

2012-01-06T21:21:00.000-08:00

It was a good week for the stock market and the Arkansas Razorbacks.Encouraged by a positive employment report and a promising result from the Institute for Supply Management's manufacturing survey,the Dow logged a 1.17% weekly gain,while the NASDAQ led the way with a 2.65 uptick and the S&P added 1.61 to its ledger.
Some dismissed the expansion of employment by 200,000 jobs in December as a result of seasonal hiring.They also pointed out that the number of long term unemployed remains at 5.6 million.The Euro-zone debt crisis,Iranian behavior and U.S. deficit issue remain significant headwinds as well.
The Arkansas Razorbacks won their school record 11th football game of the season as they soundly beat the Kansas State Wildcats 29-13 in the AT&T Cotton Bowl in Arlington,Texas.It was the Razorbacks' fourth Cotton Bowl trophy,the last one being earned in the year 2000.The game was held at the NFL's largest venue,Cowboy Stadium,before a spirited sellout crowd of 80,000.
AT&T,which is based in nearby Dallas,has been a Cotton Bowl sponsor for 16 years.
Next week,earnings season begins as Alcoa reports its Q4 results on Monday.Also on Monday,German Chancellor Angela Merkel will hold talks with French President Nicolas Sarkozy on European financial problems.In addition,retail sales and consumer sentiment reports could color the market's performance.The S&P futures rose 1.10 on Friday evening,and bond index futures edged higher as well.
AT&T(T)

2011 Market Wrap: Lackluster With Some Light

2011-12-30T19:40:00.000-08:00

The stock market drew to its 2011 conclusion Friday,with the major averages down just over a half percent for the week.For the year,the bellwether S&P 500 Index was virtually flat,down a meaningless 0.003.You made no money on the broad market this year,but you didn't really lose any,either.
There were individual winners and losers,however.McDonald's was the biggest winner among the Dow 30,rising 31% on the year.The biggest loser in the Dow was Bank of America,losing more than half its value at -55%.Top-rated financials in the analysts' estimates are JP Morgan Chase,Prudential Financial and Wells Fargo.
The winning sectors for 2011 were utilities and consumer staples-clearly defensive areas.The biggest losers were the financials and materials-sectors dependent on a robust economy.The CBOE VIX volatility index was up a sharp 31.83% on the year,and trading volume was pretty uniformly thin.
The new year may well hold more of the same in store,with concern over European and American deficits,and the U.S. presidential election,dominating a headline-driven market.The S&P futures slipped modestly Friday evening,down 4.80%,and bond index futures gained.
McDonald's(MCD),Bank of America(BAC),JP Morgan Chase(JPM),Prudential Financial(PRU),Wells Fargo(WFC)

Special Edition:Bethlehem To Have Successful Season

2011-12-23T19:41:00.000-08:00

The Palestinian Authority is predicting a successful Christmas-New Year season for the town so revered by Christians as the site of Jesus' birth.Minister of Tourism Khulud Deibes said she is looking for more than 100,000 tourists during the period,with some 50,000 from December 24-25.
Ms.Deibes participated in a kickoff event with Bethlehem Mayor Victor Batarseh,a children's march through the town to Nativity Square.More than 1,000 children marched along with camels,costumed characters and clergy in the colourful event.Some of the children wore their scout uniforms.
Mayor Batarseh has commented that the wall surrounding Bethlehem has a negative impact on every aspect of daily life in the sacred town,which has one of the highest densities of population in the Palestinian Authority.Even with that,we insist on celebrating Christmas-both Christians and Muslims.We ask for a right to self-determination and our own Palestinian State.
We are staying put on this land.The pilgrims are actually breaking down the walls of separation.That is why we insist on doing Christmas better each year.This is defying this wall,Mayor Batarseh declared.
This year,a very special concert is being held at the Bethlehem Convention Palace on Christmas Day:Christmas in Bethlehem,A Concert for Humanity at the Bethlehem Convention Palace from 7-9 PM(12-2 PM Eastern).
The concert may be viewed free of charge on Facebook.Visit "Project-Peace on Earth" from 12-2 PM Eastern U.S. time.Featured artists in the mystical songs of peace and healing include Grammy winners Joanne Shenandoah and Gary Nicholson,The Magnetic Zeros,Hani Naser,Enigma, and Zarah,the much-admired host of the teen music program B InTune TV,which reaches 200 million homes worldwide.Zarah will perform in the Global Musical Prayer for Peace and original songs from her upcoming album.
Update:The Christmas in Bethlehem concert was a complete success,concluding with some songs composed by the late John Lennon:"Imagine" and "Give Peace a Chance,"performed by all the musicians together and with the audience singing along.It benefited the UNWRA,a UN agency that helps Palestinian refugees in Jordan,Gaza,the West Bank,Syria and Lebanon.For more information and to contribute,visit www.unwra.org

Market Restrained By Europe;Sam Houston State Advances

2011-12-16T21:12:00.000-08:00

A positive Philly Fed manufacturing report wasn't enough to bolster the market this week.The S&P fell 2.80 on the week as the Fitch ratings agency reaffirmed its doubts about both European and U.S. banks and put several small countries on credit watch negative.Trading is still distressingly thin as a mood of caution sweeps the market towards the end of the year-if not the end of the world.
Nonetheless,a highly entertaining college football game took minds off this Friday night in Huntsville,Texas,where the Sam Houston State Bearkats edged the Montana Grizzlies 31-28 in a semifinal of the NCAA Division I Championship.The Grizzlies had come back from a 21-0 deficit,but the Bearkats' outstanding running back Tim Flanders ensured their victory with his 287 yards of rushing.The final will be held at Pizza Hut Park in Frisco,Texas on January 7,when the Bearkats will play either Georgia Southern or North Dakota State.
American teen Lexi Thompson,who is all of sweet 16,holds a one stroke lead at the Omega Dubai Ladies Masters,the final event of the year on the Ladies European Tour.She is angling for her first career win on the Tour,having earned her first career win on the LPGA Tour three months ago.Sweden's veteran golfer Sophie Gustafson,38,a 14-time
European Tour tournament winner,is second on the leader board.
The S&P futures declined slightly Friday evening,losing a further 0.80,while bond index futures were on the upswing.
Update:The poised and well-spoken Lexi Thompson went on to win the Omega Dubai Ladies Masters with a final round five under par 67.She became the youngest player ever to win a Ladies European Tour tournament,matching the same distinction she had achieved in the LPGA earlier in the year.South Africa's Lee Anne Pace came in second at Dubai,while Sophie Gustafson finished third in this final event of the season.

Euro-zone Leaders Agree;Montana Grizzlies Win

2011-12-09T20:50:00.000-08:00

Leaders of 17 European nations which use the Euro as their currency have agreed to a series of measures designed to prevent the current debt crisis from occurring again;the U.K. rejected the pact,and several other European countries are studying it further.This contented the stock market for now,sending the major averages up on the week.The Dow gained 1.37%,while the S&P rose 0.88 and the NASDAQ added 0.76.The S&P remains slightly down on the year at -0.19.
In college football,the Montana Grizzlies drew on boisterous hometown support at Washington Grizzly Stadium in Missoula to take a quarterfinal game in the NCAA Division I Championship series,crushing the Northern Iowa Panthers 48-10.Student fans cheered on concrete during the game,having destroyed the seats in their enthusiasm.The Grizzlies will play the winner of the Montana State and Sam Houston State quarterfinal match-up for the title.Fireworks were launched in celebration and a gigantic M was lit up on the mountain behind the stadium at elevation 700 feet.It was 23 degrees F at game time,but the Grizzlies went bare-armed anyway.
In golf,Spaniard Alvaro Quiros leads the Dubai World Championship through two rounds at the Earth Course of the Jumeirah Golf Estates in the United Arab Emirates with a twelve under par 64.Luke Donald of England,the current world number one,is in contention to capture the overall European Tour title at the tournament.
Next week,Wall Street will continue to monitor European developments,as well as an OPEC oil cartel meeting in Vienna on Wednesday.FedEx and General Mills will report their earnings.The S&P futures were up a strong 22.80 on Friday evening,while bond index futures declined.
FedEx(FDX),General Mills(GIS)

Santa Anas Blast SoCal;McIlroy and Quiros Lead

2011-12-02T21:21:00.000-08:00

The San Gabriel Valley was rocked by hurricane force Santa Ana winds this week in a rare event the likes of which are seen only once in 5-10 years.The tremendous gusts decimated the urban forests of Southern California as communities lost hundreds of treasured trees,losing power and even water in the process.Pasadena was particularly hard hit,with some 450 street trees being toppled by the winds.Homes were damaged in these lands along the San Gabriel Mountains,where gusts of up to 80 mph were recorded.
The fire risk was described as explosive by a weather service official.The Santa Anas are known for the catastrophic wildland fires they often contribute to in the region.
Rumors of European progress and positive manufacturing and employment trends protected the market this week.All major averages posted gains north of 7%.For the week,the S&P 500 rose 7.39.On the year,the S&P is still down 1.06,however.
The Race To Dubai,The European Tour,made its next to last stop at the Hong Kong Golf Club.After two rounds of the UBS Hong Kong Open,Alvaro Quiros of Spain and Northern Ireland's Rory McIlroy topped the leader board.Luke Donald of England led the series going into this weekend,followed by German Martin Kaymer and McIlroy in second and third place,respectively.
Next week will be back-loaded by an important Friday summit in Brussels on changes to the EU treaty for fiscal discipline.Other influential events will include the Institute for Supply Management's service sector report on Monday and a consumer sentiment reading also on Friday.The S&P futures were basically flat at -0.10 Friday evening,while bond index futures rose.

Commodities Drop;NBA Fans Hopeful

2011-11-26T11:36:00.000-08:00

Wheat dropped to a sixteen-month low this week.It was believed to be because of the fear that a weak economy is causing a reduction in demand.Cocoa,sugar and coffee also declined.
Stocks had a very poor Thanksgiving week on thin trading,and the S&P futures fell 6.50 Friday evening,portending an unenthusiastic Monday morning.Next week will be dominated by Friday's employment report,along with the deficit-driven headlines of the day.
NBA fans are cheering the announcement that the professional basketball season will tentatively begin with a triple-header on Christmas Day after the bitter labor squabble that threatened to cancel the entire season.Many hospitality workers were laid off because of the games already canceled,but their prospects are looking decidedly better this weekend.

Svalbard Picture – Arctic Photo - National Geographic Photo of the Day

2011-11-19T10:39:00.000-08:00

Svalbard Picture – Arctic Photo - National Geographic Photo of the Day

Market Performs Poorly;Mississippi State Wins

2011-11-18T21:01:00.000-08:00

The stock market delivered a poor result this week on deficit obstacles both at home and abroad.The Dow fell 2.94,while the NASDAQ slipped 3.97 and the S&P stumbled 3.81.On the year,the S&P has logged a loss of 3.81%.
Mississippi State was highly successful,however,as the unranked Bulldogs staged a 67-57 upset win over the number 16 Arizona Wildcats at the 2K Sports Classic in New York's Madison Square Garden.The basketball tournament benefited Coaches Versus Cancer.Although early in the season,it is a championship that already makes a statement about worthiness for the March Madness tournament in 2012.
At The Presidents Cup at the Royal Melbourne Golf Club in Australia,the U.S. team maintained its 2 point lead over the International squad on Friday.The course itself provided stiff resistance to all with its tough conditions of hard greens and high winds.
Next week,a number of data points are featured in the market against the debt fear background,including GDP,durable goods,existing home sales and consumer sentiment reports.Hewlett-Packard will be submitting its earnings for scrutiny.
The S&P futures lost a little more Friday evening,edging down a further 0.90.Bond index futures also slid.There will be no U.S. trading on Thursday because of the Thanksgiving holiday.
Hewlett-Packard(HPQ)

President and Troops Celebrate With Basketball

2011-11-11T21:11:00.000-08:00

President Barack Obama and U.S. troops celebrated the Veterans Day holiday with a twilight basketball game aboard the USS Carl Vinson(CVN 70)at Naval Base Coronado,California.The first Carrier Classic,sponsored by Quicken Loans,went off seamlessly aboard the aircraft carrier before about 7,000 Sailors,Marines and other service members and veterans.Captain Bruce O. Lindsey is Commanding Officer of the warship,which will be deployed at the end of the month.
The President said our gratitude to the troops does not stop when they take off the uniform.We make our commitment to serve you as well as you have served us.Mr.Obama seemed to be very relaxed and having a good time watching his favorite sport with our military men and women.Former NBA star Magic Johnson also attended,saying the event was a bucket list day for him.Number one-ranked North Carolina beat Michigan State 67-55.
On Wall Street,Veterans Day was marked by strong gains on light volume as Greece and Italy seemed to be ironing out some of their political problems.For the week,the Dow was up 1.42%,while the NASDAQ rose 2.04 and the S&P climbed 0.85.The S&P is up 0.49 on the year.
Next week will be influenced by any further news from Europe,as well as reports on inflation,retail sales,industrial production,housing starts and Leading Economic Indicators.The Philly Fed manufacturing survey will also be released,as will earnings reports from Home Depot,Wal-Mart,JC Penney and Sears.
On Friday evening,the S&P futures continued the rally,gaining 24.20.Gold futures added 24.40 to reach 1789 dollars an ounce.The bond market was closed for Veterans Day.
Wal-Mart(WMT),Home Depot(HD),JC Penney(JCP),Sears(SHLD)

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Market Loses Ground;Swedish Golfer Gains Some

2011-11-04T21:08:00.000-07:00

The market again struggled with Euro debt worries and an inadequate U.S. employment report,posting a decline on the week.The Dow lost 2.03,while the NASDAQ dropped 1.86 and the S&P fell 2.48.Next week should see more of the same with a light data calendar and few major earnings reports.Among those who will report earnings next week are consumer-oriented General Motors,Macy's and Disney.
The market will be open on Friday,Veterans Day,but banks and the post office will be closed.Consumer sentiment data will be released on Friday.
The S&P futures continued the decline Friday evening,being down another 4.60,while bond index futures rose.
At the World Golf Championship-HSBC Champions in Shanghai,the European Tour continued its Race to Dubai,where the Tour will conclude on December 9.Through the fifth hole of the third round on Saturday,with Asian birds singing distinctively back in the trees along the steamy course,Sweden's Fredrik Jacobson cooly held the lead at fourteen under par for the tournament.Australia's Adam Scott and South African Louis Oosthuizen-pronounced "West hayzen"-were tied for second at -11.Pro golf will only have a one month holiday,as the 2012 PGA Tour starts in Hawaii on January 6.
HSBC Holdings,PLC(HBC),General Motors(GM),Macy's(M),Disney(DIS)

Rare October Snowfall Developing

2011-10-28T21:06:00.000-07:00

Winter Storm Warnings are posted for the interior Northeast and Mid-Atlantic as a rare October nor'easter threatens the regions.Widespread power outages may occur as heavy snow coats leafy trees,bringing limbs down on power lines.Baltimore,Maryland has not had October snow since 1903.Upwards of a foot of snow could blanket the Appalachian Mountains,aggravating residents who are looking forward to Halloween on Monday.
Wall Street was not aggravated this week,hailing European leaders for devising a broad outline for handling the Euro debt crisis.Gains were muted on Friday,however,as traders soberly contemplated the U.S. deficit and the prospects for the Europeans now agreeing on details.
For the week,the broadly based S&P added 46.83 points,bringing it up 2.18% on the year.Large cap stocks are leading the way,with the Dow thirty up 5.65% on the year.
Scores were high at the Andalucia Masters at the Valderrama Golf Club in Sotogrande,Spain on Friday.Scotsman Richie Ramsay topped the leader board with a five under par 72.France's Gregory Havret and Spaniard Sergio Garcia shot a 71 and a 70,respectively,on the very hilly course.
Next week will be back loaded by the employment report on Friday.The Institute for Supply Management will also release important manufacturing data.The S&P futures were basically flat in response on Friday evening,barely declining at -0.13,while bond index futures rose.

Europe Still Drives Market

2011-10-21T20:58:00.000-07:00

Wall Street's obsessive concern with the Euro debt crisis continued to shape results this week;nor is any change in the offing.Even though U.S. banks actually have only limited exposure to Europe,traders think they will suffer greatly from European failures.In the end,it's what traders perceive that determines market direction.
Optimism about the crisis was the prevailing wind by the end of the week as Euro-zone finance ministers approved of the next round of aid to Greece and a series of European Union summits will be held beginning Sunday.For the week,the Dow gained 1.41,while the NASDAQ lost 1.14 and the S&P rose 1.12.Decent earnings reports from Honeywell,GE and Microsoft also gave the broader market a final nudge upward.GE stock declined for its manufacturing results,but the company did issue a positive outlook and a satisfactory overall report,which helped stem any sell-off tendency.
Next week,the results of the EU summits may be all-consuming.Any hint of failure would seem likely to derail equities,and EU success could ignite a major rally.
The S&P futures were up strongly Friday evening,rising 25.25,and bond index futures fell.
At the Children's Miracle Network Hospitals Classic at Lake Buena Vista,Florida,a three-way tie for the lead occurred among American Justin Leonard;Swede Henrik Stenson;and South Korean Bio Kim,all coming in at 12 under par.Leonard,39,has scored 12 career PGA Tour wins and more than 30 million dollars in career earnings.
General Electric(GE),Honeywell(HON),Microsoft(MSFT)

Market Has Excellent Week

2011-10-14T20:03:00.000-07:00

The stock market excelled this week,with all industry groups coming out ahead as Europe was relatively quiet and Google reported strong quarterly results.For the week,the Dow was up 4.88,while the NASDAQ surged 7.60 and the S&P added 5.98%.On the year,however,the broadly based S&P remains down 2.63.Volume was light this week,showing a lack of conviction behind the good numbers.
Excelling on the PGA Champion's Tour of senior golf pros this year is American Tom Lehman,who tops the Charles Schwab Cup point standings.Lehman has three wins and 11 top ten finishes so far this season,which ends in three weeks in San Francisco.This week,the Tour is at the AT&T Championship at TPC San Antonio's Canyon Course.Fred Couples and Steve Lowery led the field with first round seven under par 65s on a hot,dry Friday.
Next week's financial calendar bulges with data and blue chip earnings.The Empire State and Philly Fed reports,together with housing data and earnings submissions by IBM,Goldman Sachs,Apple,Intel and American Express,will keep the analysts busy all week.
The S&P futures climbed a substantial 21.30 Friday evening,while longer maturity bond index futures declined.
Google(GOOG)

Labor Market Steady,Choppy Trading Persists

2011-10-07T20:41:00.000-07:00

The stock market ended slightly higher for the week as neither the foreign nor domestic economies showed any decisive moves.The September employment report was stagnant,with a steady jobless rate of 9.1,and Europe watched expectantly for results of a weekend summit between French President Nicolas Sarkozy and German Chancellor Angela Merkel.For the week,the Dow rose 1.7%,while the NASDAQ gained 2.7 and the S&P added 2.1.
Next week,earnings season begins with Alcoa reporting its results on Tuesday.On Wednesday,PepsiCo reports,and JP Morgan Chase and Google issue their marks on Thursday.Friday will see the release of retail sales and consumer sentiment numbers.
The market will be open on Monday,Columbus Day.The S&P futures pointed down on Friday evening,losing 2.70,and bond index futures also declined as gold gained 17.40 to close at 1634.50 an ounce.
In the PGA's Fall Series,England's Paul Casey shot an exceptional second round eight under par 64 to take the lead at the Frys.com Open at CordeValle Golf Club in San Martin,California.He was followed by American Bud Cauley and South African veteran Ernie Els at seven under.
Alcoa(AA),PepsiCo(PEP),JP Morgan Chase(JPM),Google(GOOG)

Poor Market Quarter Ends;MLB Playoffs Begin

2011-09-30T20:43:00.000-07:00

The stock market was racked by massive volatility in the just-ended Q3.The CBOE VIX Volatility Index soared an amazing 159.32% over the the three months as investors fretted over debt fears both at home and abroad and consumers faced escalating food and health care costs,while gas remained stubbornly over 3.00 a gallon even though the summer driving season has come to an end.For the quarter,the Dow lost 12.1%,while the NASDAQ fell 12.91 and the S&P plummeted 14.1.
This financial gloom was relieved by an entertaining close to the Major League Baseball season-unless you are a Boston Red Sox or Atlanta Braves fan.Both teams created a lot of excitement as they dragged the wild card race out to the very end,both succumbing to ineptitude under pressure in the end.The Tampa Bay Rays and St.Louis Cardinals rallied into the playoffs instead,which began late Friday afternoon as the Rays clocked the Texas Rangers 9-0 in the American League Division Series.Rays catcher Kelly Shoppach hit two homers in the first game of the best of five series.The New York Yankees and the Detroit Tigers were tied 1-1 in the other American League match-up when the game was suspended for rain.They will resume play Saturday night.
Next week,the market will deal with manufacturing and service sector reports from the Institute for Supply Management,as well as Friday's unemployment numbers and continuing European drama.The S&P futures were having none of it Friday evening,cratering a further 30.30,while bond index futures rose.