Big GE Week,Knicks Cuffed

It was a big week for GE as the manufacturing titan reported a great Q4.GE had a big jump in orders and its first revenue increase in two years.It's a sign of rising capital expenditure and a recovering industrial base as companies purchase GE's broad range of big products.
The New York Knicks had a small Friday night in San Antonio as the Spurs dealt them a 101-92 loss at AT&T Center.The Spurs have the best record in the NBA at 37-6.Tony Parker shot 21 points with 13 assists for the victors on a pleasant Texas night.It was the Spurs' eighth straight win.For the Knicks,Danielo Gallinari shot 16 points,while Amare Stoudemire had 23 points and Raymond Felton 18,respectively.
The Mid-Atlantic region was partly cloudy and chilled into the teens or single digits Friday night,with Saturday night expected to fall likewise.
For the week,the Dow rose 84.46,while the S&P dropped 9.89 and the NASDAQ stumbled 65.76,or 2.4%.The S&P futures pointed up 3.50 Friday evening,and the 10 year bond futures yield rose as well.Next week,Caterpillar and American Express will report their earnings.
General Electric(GE),Caterpillar(CAT),American Express(AXP)

Earnings Season Going Well,Texas Wins

Wall Street responded favorably to good earnings reports from most companies that have reported so far.Eighty percent have beaten profit estimates,while 75% have shown revenue increases as well.The market was up all round this week,with the Dow gaining 0.6;the S&P also 0.6;and the NASDAQ 0.4.Next week,a third of the largest companies will be reporting on their earnings as the quarterly ritual continues.
Wintry conditions continue their presence in pockets of the lower 48,with snow levels falling to just under 4,000 feet in mountain passes of the Pacific Northwest,snow coating Northern Maine and brushing the Adirondacks as well.A frost advisory was up in the Mid-Atlantic region,even though Saturday was expected to be mild.
The S&P futures were up 5.0 this evening as optimism about earnings season,the mid-term elections and Federal Reserve policy continued to prevail.The Dow futures rose 7.0,while the NASDAQ futures added 24.0 and bond futures also ascended.
The Texas Rangers' spirits rose as well,as they creamed the New York Yankees 6-1 for their first American League Championship in Arlington,Texas.

Strong Low Hugs Northeast;Yankees Stumble Early,Then Recover

A powerful low pressure system gave the Northeast coast a bear hug Friday night,bringing gusty and even snowy conditions to residents.Vermont received up to a foot of snow-not unusual for October,one skier remarked.Meteorologist Jim Cantore reported for The Weather Channel in the snow,predicting a cold,snowy winter for the Northeast.
Pitcher CC Sabathia was feeling pretty cold himself,being slammed with five runs in the early innings by the Texas Rangers as the American League Championship Series got underway in Arlington,Texas.Former President George W. Bush,who now lives on his Texas ranch permanently,was on hand to applaud his favorite team.The Yankees later came back strongly to win the game 65.
The stock market registered its sixth weekly gain in seven weeks,with the S&P 500 index up 0.95.The Dow edged 0.51 higher,and the NASDAQ gained 2.78,cheered by Google's strong Q3 earnings.The latter trend continued in the futures market Friday evening,with the NASDAQ futures up 33.0,while the Dow futures fell 28.0 and the S&P futures were flat.Bond futures climbed.
Companies reporting earnings next week include Citigroup,Apple,Caterpillar,Bank of America and IBM.
Google(GOOG),Apple(AAPL),International Business Machines(IBM),Caterpillar(CAT),Bank of America(BAC)