North Dakota Devastated by Flooding

Many residents of Minot,North Dakota failed to get flood insurance,believing their levees would protect them.Although the levees would not breech,they are being topped,leaving many homeless for the foreseeable future.
Record flood waters,the result of prodigious winter snowfall and spring rain in the U.S. and Canada,are raising the misery index exponentially in Minot and nearby communities in the upper Midwest.Dam floodgates had to be opened in three Canadian dams and one American dam,sending a cascade of ruinous proportions southward down the Souris River,submerging countless homes and businesses.
Financial fears are mounting in Europe and the U.S.,where the Greek debt issue continues to ruffle markets.Accord has been reached with the EU and IMF,but the Greek parliament still has to approve the austerity requirements to receive the aid for upcoming repayments.As well,the Fedreral Reserve's quantitative easing program,or QE2,ends next Thursday,with unknown consequences for the stock market.
For the week,the Dow dropped 0.58%,while the NASDAQ lost 1.39 and the S&P edged 0.24 lower.
A number of data points will also condition trading next week.Pending home sales,consumer confidence,the ISM manufacturing index,and the S&P/Case-Shiller home price index will be released.
In reaction,the S&P futures tumbled 13.10 Friday evening,but bond index futures climbed.
At the College World Series in Omaha,Nebraska,South Carolina climbed past Virginia 3-2 in 13 innings on two throwing errors.The Gamecocks will face the Florida Gators in a best of three final beginning on Monday.

Britannia Rules Airwaves,Earnings Rule Market

If you notice that you're starting to speak with a slightly British accent,it isn't surprising,given the royal wedding mania that has swept through the televised world.And why shouldn't it have,given the tough row most people have to hoe?A diversion like that is a welcome relief for the average person.It's an extra holiday.
For its part,the market was living out its own fairy story this week,as corporate earnings continued to please,for the most part.When good earnings are rolling in,economic reality such as poor housing figures and persistently high unemployment may be shoved aside for a while.
Analysts caution,however,that gains in the second half of the year could slow down quite a bit as companies find it increasingly difficult to post the type of results that characterized the last few years.
For the week,however,the Dow was up 2.44,while the S&P rose 1.95 and the NASDAQ 1.89.The Dow and S&P closed at their highest since 2008,and the NASDAQ hasn't been this elevated since the year 2000.
Next week,the earnings parade goes on as General Motors,Pfizer,Kraft Foods and AIG share their results for Q1.The Institute for Supply Management will release its April purchasing manager surveys,and the unemployment report will close out the week.
Stock futures were largely positive Friday evening,with the S&P futures up 4.80,the Dow futures adding 48.00 and the NASDAQ retreating a little,down 1.00.
Winter isn't retreating in some areas.Blizzard warnings are up for the Northern Plains.As much as nine inches of snow are expected in northern North Dakota and adjacent areas.
Kraft Foods(KFT),General Motors(GM),Pfizer(PFE),American International Group(AIG)

Market Has Good Week,Despite Oil

Oil price momentum slowed,but couldn't stop,the market this week.It ended slightly higher for the week.The Dow rose 0.33,while the S&P edged up 0.10 and the NASDAQ 0.13.All bonds ended in the green on Friday as stocks dropped modestly on the day,the fear trade returning in response to continued Libyan chaos on Friday.
Fear carried over into the futures market Friday evening,with the Dow losing another 85.00,the S&P a further 9.40 and the NASDAQ futures falling 12.00 more.
North Dakotans won't have to fear sweating on Saturday,with the forecast high being 16 F at Fargo.
A stiff breeze dried the sweat off golfers at the Honda Classic,a FedEx Cup event, in Palm Beach,Florida on Friday.American Kyle Stanley,23,topped the leader board with a 2nd round 66 for a -6,while South Africans Rory Sabbatini and Charl Schwartzel held 2nd and 3rd place respectively,Sabbatini shooting a superlative 2nd round 64 with 7 birdies and only 1 bogey.
American Mark Wilson leads the FedEx Cup competition so far.

Thunder Prevail,Market Even

The Oklahoma City Thunder handled the Boston Celtics 89-84 Friday night before a very loud crowd at TD Garden in Boston.The Thunder couldn't make a basket as the game wound down,missing their last 14 shots,but their foul shooting was sharp.Russell Westbrook,who led the Thunder with 31 points,said that OKC also defended like they did all last year,and so they closed down the game.Kevin Garnett scored 16 points for Boston.
Brisk conditions brace the Northern Plains like the OKC defense this weekend.Bismarck will be 21F Saturday,and Billings will have a high of 19,with snow in both locations,as well as in the Sierra Nevada range.Seattle could see snow Saturday night,and snow showers may brush the Northeast.
After falling off a cliff,the market managed to recover its equilibrium this week,closing on a flat note for the week,with the S&P up 0.04.Worries about European debt had resurfaced,and China took measures to cool off its economy,constraining any progress traders had hoped to achieve.
Positive manufacturing numbers from the Mid-Atlantic region helped the market end on an even keel.Hewlett Packard's earnings report after the closing bell on Monday is an early milestone for next week's action.The S&P futures were up 0.50 this evening,and bond futures were in the green as well.
Hewlett Packard(HPQ)