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)

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