For the week,stocks posted modest gains,with the Dow gaining 1.28,the S&P 1.42 and the NASDAQ 1.70.The first quarter has closed and Q2 has begun with risk assets still in the leading role for portfolio managers.The week ahead promises more of the same,with the S&P futures up 6.70.Bond futures rose in price also.
The employment picture improved as expected,with the unemployment rate falling slightly to 8.8% in March.Since 2009,it has declined from 10.1%.The slow recovery continues.
Unsettled spring conditions prevailed in the Mid-Atlantic region this week,and the next promises a repeat with more spotty showers in the forecast.
It was sunny at the Houston Shell Open Friday,where American Chris Kirk topped the leader board with a second round 69 for a -9.Fellow Americans Anthony Kim and Johnson Wagner shared 2nd with -9s,while Irishman Padraig Harrington was 4th,also shooting a 2nd round 69.
Update:On Saturday,Phil Mickelson,40,showed flashes of his old brilliance,seizing a share of the lead with his friend Scott Verplank,and tying the course record with a 13 under 63 at that,as he builds to his title defence at The Masters next week,the first of the year's majors.Mickelson surged from being five strokes off the lead on Friday.Chris Kirk fell to third place,sharing it with Australian Aaron Baddeley.
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