NCAA:Ohio Almost Prevails;So Too the Market

The Ohio Bobcats almost dealt the North Carolina Tarheels' hopes a fatal blow Friday night at the NCAA Midwest Region semifinals in St.Louis.Walter Offut could have scored a 3-point shot to win the game for Ohio,but,in the end,he missed and the Bobcats had to settle for a 2-point that sent the game into overtime.
This put a great burden on the Bobcats and they were unable to deliver,already tired by the effort needed to match the #1 Tar Heels.North Carolina won 73-65,led by Tyler Zeller and his hefty 20-point,22-rebound performance.
Disappointing home sales figures,as well as concern over slower Chinese and European growth,held the stock market back this week.The S&P 500 Index slid 0.50% on the week,although still up a strong 11.09% on the year.Next week will see few reports.Durable goods orders and personal income and spending numbers will be evaluated.On Friday evening,the S&P futures climbed a modest 5.20,and bond index futures also made an ascent.
Update:North Carolina will play Kansas on Sunday at 5:05 pm Eastern on CBS.

Lehigh Upends Apple Cart;Market Smiles

The Lehigh University Mountain Hawks dismissed the expert opinion Friday evening when they handled the Duke Blue Devils 75-70 at the NCAA college basketball tournament at Greensboro,North Carolina.Lehigh,the number 15 seed,upended number 2-ranked Duke's apple cart with strong defensive play and a superior proficiency in 3-point shots of 33.3% versus 23.1%.The two teams had identical regular season records of 27-7.
Also sustained by the performance of number 5 NCAA scorer C.J. McCollum's 30 points,the Mountain Hawks gave the entire Lehigh Valley of Pennsylvania one of the happiest memories of their lives.They also greatly pleased University of North Carolina fans who loudly cheered them on,detesting rival Duke University's team.
Lehigh coach Brett Reed said they ignored the prognosticators and just believed in themselves.Duke coach Mike Krzyzewski felt that his team wasn't a juggernaut.In fact,they hadn't been doing well offensively the last few weeks of the season.
It wasn't just our doing,he added-they played that well.
The stock market also excelled this week,with the S&P 500 Index posting a weekly gain of 2.43% on a decline in new filings for jobless benefits,as well as solid manufacturing reports.On the year,the S&P is up 11.65%.
Next week,the market will evaluate housing numbers,plus earnings reports from General Mills,Oracle and FedEx.The S&P futures tacked on 2.50 Friday evening,while bond index futures slipped in price.
General Mills(GIS),Oracle(ORCL),FedEx(FDX)

Market Performs Poorly;Mississippi State Wins

The stock market delivered a poor result this week on deficit obstacles both at home and abroad.The Dow fell 2.94,while the NASDAQ slipped 3.97 and the S&P stumbled 3.81.On the year,the S&P has logged a loss of 3.81%.
Mississippi State was highly successful,however,as the unranked Bulldogs staged a 67-57 upset win over the number 16 Arizona Wildcats at the 2K Sports Classic in New York's Madison Square Garden.The basketball tournament benefited Coaches Versus Cancer.Although early in the season,it is a championship that already makes a statement about worthiness for the March Madness tournament in 2012.
At The Presidents Cup at the Royal Melbourne Golf Club in Australia,the U.S. team maintained its 2 point lead over the International squad on Friday.The course itself provided stiff resistance to all with its tough conditions of hard greens and high winds.
Next week,a number of data points are featured in the market against the debt fear background,including GDP,durable goods,existing home sales and consumer sentiment reports.Hewlett-Packard will be submitting its earnings for scrutiny.
The S&P futures lost a little more Friday evening,edging down a further 0.90.Bond index futures also slid.There will be no U.S. trading on Thursday because of the Thanksgiving holiday.
Hewlett-Packard(HPQ)

President and Troops Celebrate With Basketball

President Barack Obama and U.S. troops celebrated the Veterans Day holiday with a twilight basketball game aboard the USS Carl Vinson(CVN 70)at Naval Base Coronado,California.The first Carrier Classic,sponsored by Quicken Loans,went off seamlessly aboard the aircraft carrier before about 7,000 Sailors,Marines and other service members and veterans.Captain Bruce O. Lindsey is Commanding Officer of the warship,which will be deployed at the end of the month.
The President said our gratitude to the troops does not stop when they take off the uniform.We make our commitment to serve you as well as you have served us.Mr.Obama seemed to be very relaxed and having a good time watching his favorite sport with our military men and women.Former NBA star Magic Johnson also attended,saying the event was a bucket list day for him.Number one-ranked North Carolina beat Michigan State 67-55.
On Wall Street,Veterans Day was marked by strong gains on light volume as Greece and Italy seemed to be ironing out some of their political problems.For the week,the Dow was up 1.42%,while the NASDAQ rose 2.04 and the S&P climbed 0.85.The S&P is up 0.49 on the year.
Next week will be influenced by any further news from Europe,as well as reports on inflation,retail sales,industrial production,housing starts and Leading Economic Indicators.The Philly Fed manufacturing survey will also be released,as will earnings reports from Home Depot,Wal-Mart,JC Penney and Sears.
On Friday evening,the S&P futures continued the rally,gaining 24.20.Gold futures added 24.40 to reach 1789 dollars an ounce.The bond market was closed for Veterans Day.
Wal-Mart(WMT),Home Depot(HD),JC Penney(JCP),Sears(SHLD)




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