Friday, April 22, 2011

Jerusalem Full of Pilgrims

Pilgrims of every persuasion are gathered in Jerusalem this weekend.Not only is it Easter at the same time this year for both Eastern and Western Christians;it is Passover as well.Often,the Eastern Orthodox have Easter a week or two later than the Roman Catholics and Protestants.
The walled Old City is hosting them all,and so far,all is well for them under the trained glances of the security forces.Merchants,vendors and hoteliers are doing a brisk trade catering to the needs of the throngs.
There were Christians of many nationalities carrying crosses of various styles on the cobblestone Via Dolorosa on Good Friday,retracing the last footsteps of Christ before His crucifixion,pausing at each station of the cross.It started to rain and the umbrellas came out,but the processions to the historic Church of the Holy Sepulchre went on,and Christians were deeply affected as they practiced their faith where it was actually founded,considering themselves blessed to be there at Easter.
The financial markets had a shortened week in observance of Good Friday,and logged continued gains in the event.The Dow rose 1.3 for the week,and the S&P charted a 1.3 gain as well,but the NASDAQ climbed up 2.0.The Reuters/Jefferies Commodity Research Bureau index gained 1.50.Looking to Monday,the S&P futures were up 2.70 Thursday evening,and bond futures were also higher.
Earnings reports from heavyweights such as Exxon Mobil,Procter&Gamble,PepsiCo and Microsoft may influence traders next week,as may the new home sales report.
Exxon Mobil(XOM),Procter&Gamble(PG),PepsiCo(PEP),Microsoft(MSFT)

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