Friday, May 27, 2011

Cavaliers Move On,Market Does Not

The Virginia Cavaliers moved on in the ACC Baseball Championship in Durham,North Carolina didn't faze the Cavs,who topped Pool A with a 2-0 record.The Canes mounted a comeback when they loaded the bases in the bottom of the eighth,but were ultimately shut down by Cavs reliever Branden Kline,who got the save.
The stock market did not progress this week,ending with slight losses on continued European debt fears,poor pending home sales and doubts about the consumer.For the week,the Dow slipped 0.6,while the S&P and NASDAQ edged 0.2 lower.
Next week will be back-loaded by Friday's employment data,with the ISM manufacturing figures on Wednesday and chain store sales on Thursday also possible influences on trading,along with the European debt crisis and the U.S. budget deficit.The S&P futures nontheless traded up 3.40 Friday evening,and bond index futures also rose as traders felt cautious ahead of overseas markets and governments being open Monday morning.

Friday, May 20, 2011

Stocks Slip Slightly On Renewed Fears

The wall of worry built up to a hint of hurt for the market this week.An old story,the European debt crisis,was re-energized this week when the Fitch Rating Agency cut Greek bonds to junk status.There was also concern about retailers being pressured by rising costs such as the price of cotton.For the week,the Dow lost 0.7 and the NASDAQ fell 0.9,while the S&P edged down 0.3.The Reuters/Jefferies CRB Index showed strength in commodities rising 0.7 as hard assets were sought to mitigate portfolio risk.
Though the market showed weakness,American golfer David Toms,who is 44 years old,continues the strong play that landed him second place in a playoff at The Players Championship last week in Florida.Toms shot an excellent 2nd round 16 under par 62 at the Crowne Plaza Invitational at the Colonial Country Club in Fort Worth,Texas in fine conditions on Friday.He was trailed by Australians John Senden,Steven Bowditch,American Mark Wilson and Korean Charlie Wi at -9.
Next week will see the market digesting new home sales figures,as well as durable goods orders and earnings from Medtronic and Costco.The S&P futures fell 13.90 in response,and bond index futures rose.

Friday, May 13, 2011

Toms Leads The Players,Broad Market Lower

At The Players Championship in Ponte Vedra Beach,Florida,American David Toms,44,holds the 2nd round lead,having shot a 68 -10.Countryman Nick Watney follows at -9,while Luke Donald of England,Graeme McDowell of Scotland,and Americans Lucas Glover and Steve Stricker share 3rd place.Toms has two Top 10 finishes so far this year for an earnings total of 700,215 dollars.
The broader stock market could not hold a lead this week,with the S&P 500 closing down a modest 2.43.Nor was it hopeful about next week,as the S&P futures slid 13.50 early Friday evening.Perhaps inflation fears and deficit problems got the best of it.Bond index futures rose.