Saturday, November 26, 2011

Commodities Drop;NBA Fans Hopeful

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.

Friday, November 18, 2011

Market Performs Poorly;Mississippi State Wins

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.

Friday, November 11, 2011

President and Troops Celebrate With Basketball

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)


Friday, November 4, 2011

Market Loses Ground;Swedish Golfer Gains Some

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)