Market Still Strong,Tiger's Good Round

The stock market logged another good week,with the S&P notching its highest close since June 2008 on Friday,up 1.4 for the week and 0.55 for the day.Relief at the resignation of Egyptian president Hosni Mubarak helped ensure the bull market's continuation.Next week the market will have a raft of data to respond to,from manufacturing figures to retail sales,but the current momentum trade may be strong enough to overcome even a disappointing set.
In the United Arab Emirates,Tiger Woods shot an excellent 66 at the second round of the Omega Dubai Desert Classic,putting him in a tie for fifth place with four others.Northern Ireland's young star Rory McIlroy led with a -11 for the two rounds.
The Cleveland Cavaliers ended their record 26-game losing streak with a 126-119 win over the Los Angeles Clippers.
Following a bitterly cold few mornings,the Mid-Atlantic region will enter a stretch of springlike conditions,with temperatures expected to reach above 50 Fahrenheit.
The S&P futures signaled more smooth sailing for equities on Monday,rising 8.50 Friday evening,and the ten year Treasury futures prices also rose.

Market Disses Jobs Report,Egypt

The stock market was seemingly little concerned about a disappointing employment report,as well as an unfolding crisis of global import,as it logged modest gains for the week that was.The Dow added 2.27,while the NASDAQ gained 3.07 and the S&P 2.7 respectively.The paltry jobs growth of only 36,000 in January,when what is needed is well into six figures,and the struggle of Egyptians against authoritarian rule were set aside in favor of strong manufacturing and service sector data from the Institute for Supply Management,as well as a stable European situation.
Winter weather could not be dismissed at the Dallas Super Bowl site,where six people were injured by ice falling off the roof of Cowboys Stadium;nor in Scottsdale,where the Phoenix Open was delayed by yesterday's frost and subfreezing temperatures.Americans Tommy Gainey and Mark Wilson led the portion of the second round completed on Friday at -11,while Australian Geoff Ogilvy notched a third place with a -9.Phil Mickelson will play his second round Saturday.
The S&P futures warmed up 3.90 Friday evening,and the ten year Treasury futures tacked on more interest.Next week,Kraft Foods and Disney will be among those reporting earnings.
Kraft Foods(KFT),Disney(DIS)

Cairo Chaos,Torrey Pines Brilliance

While a day of rage gripped the streets of Cairo,Egypt,flattening Wall Street,the PGA Tour was serenely underway Friday on the sunlit bluffs of Torrey Pines near La Jolla,California.American Bill Haas,winner of last year's Bob Hope Classic,topped the leaderboard with his -11,and Anthony Kim was second with a -9.Seven players shared the third spot at -8,including Phil Mickelson,who lives 20 minutes from the course,the longest on the tour.Tiger Woods was tied for twelfth with four others at -6.
The Mid-Atlantic region was far from that sunshine,still recovering from Wednesday's heavy rush hour snowfall,with many residents still without power under more gray skies and snow showers.A wintry mix is in the forecast for Tuesday into Wednesday.
The news from Egypt,together with disappointing earnings from Amazon,Microsoft and Ford,and generally overbought conditions,clipped the market's wings.They were slightly down on the week,with the S&P losing 0.6%.The Commodity Research Bureau Index was up 4.05,however.Next week will feature reports on employment,factory orders and auto sales.
The S&P futures were flat Friday evening,and bond futures prices rose.
Ford(F),Microsoft(MSFT),Amazon(AMZN)