Friday, February 17, 2012

Knicks Lose;Market Logs Modest Gain

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)

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