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)
Friday, March 16, 2012
Friday, March 9, 2012
Superstar On Snow:Lindsey Vonn Takes Fourth World Cup
Americans are feeling much pride this weekend in their champion skier Lindsey Vonn.She captured her fourth World Cup overall title at Are,Sweden with a win in the women's giant slalom race Friday.Her points total of 1808 puts her in rarefied territory.The great Austrian Hermann Meier-the Hermannator-holds the all-time season record of 2,000 points.
There are five more events to go this season.Vonn said she is exhausted,but always excited for a race.Mentally,it feels like the first week of the season.
Friday's win was her tenth of the season,and the 52nd of her career.No other American has won more World Cup overall titles.She is 27 years old,and the new trophy can only increase an already prominent profile in the advertising world.
While cognizant of her own achievement,Vonn is quick to give credit to the other skiers on the World Cup tour.It's a balanced perspective that has served her well.
The stock market also won this week on a better than expected employment report and news of a short term success in managing the Euro debt crisis,with the S&P 500 Index advancing 0.09% on the week.On the year,the S&P is up 9.01.
Next week traders will assess inflation figures;industrial production;retail sales and consumer sentiment;the Federal Reserve interest rate decision;as well as the Empire State and Philly Fed manufacturing surveys.
The S&P futures rose 6.20 on Friday evening,while bond index futures lost value.
There are five more events to go this season.Vonn said she is exhausted,but always excited for a race.Mentally,it feels like the first week of the season.
Friday's win was her tenth of the season,and the 52nd of her career.No other American has won more World Cup overall titles.She is 27 years old,and the new trophy can only increase an already prominent profile in the advertising world.
While cognizant of her own achievement,Vonn is quick to give credit to the other skiers on the World Cup tour.It's a balanced perspective that has served her well.
The stock market also won this week on a better than expected employment report and news of a short term success in managing the Euro debt crisis,with the S&P 500 Index advancing 0.09% on the week.On the year,the S&P is up 9.01.
Next week traders will assess inflation figures;industrial production;retail sales and consumer sentiment;the Federal Reserve interest rate decision;as well as the Empire State and Philly Fed manufacturing surveys.
The S&P futures rose 6.20 on Friday evening,while bond index futures lost value.
Friday, March 2, 2012
Market Quiet;Tornadoes Strike
The stock market was slightly positive this week,with the S&P 500 Index managing a gain of 0.28%.This mirrors the economy,which is growing at a leisurely pace of 1.8%,according to the latest GDP number.PIMCO's new normal hypothesis is definitely being borne out by such reports as the recovery fails to gather much steam,but is nonetheless real.The prospect of further economic stimulus from the Federal Reserve is unlikely as long as data continue on the current positive track,which leaves traders in a guarded mood in light of the Iranian situation,high oil prices and question marks in Europe.
Frankly,things are looking a bit toppy at this point,in the absence of further indications.One could come next Friday with the employment report due from the Labor Department.The Institute for Supply Management will also release its service sector data next week,but the winding down of earnings season leaves everyone feeling a little flat.
An early severe weather season is punishing the Midwest and South as tornado outbreaks from Indiana to Alabama had fatal consequences.Entire small towns were razed to the ground by fierce winds that left 31 dead in Indiana,Kentucky and Ohio.A cold air mass from the Rocky Mountains clashed with warm air,resulting in the unusually violent beginning to meteorological spring,which started March 1.
The Phoenix Suns bested the Los Angeles Clippers on Friday night at U.S. Airways Center in Phoenix.Jared Dudley,26,led the Suns to their conquest,scoring the game high 22 points,with 7 rebounds and 4 assists.For L.A.,Blake Griffin topped the stats with 17 points,7 rebounds and 1 assist.The Clippers fell to 21-12 on the year,while Phoenix still lags behind them with a record of 16-20.
The S&P futures dropped 5.70 Friday evening,while bond index futures rose.
Frankly,things are looking a bit toppy at this point,in the absence of further indications.One could come next Friday with the employment report due from the Labor Department.The Institute for Supply Management will also release its service sector data next week,but the winding down of earnings season leaves everyone feeling a little flat.
An early severe weather season is punishing the Midwest and South as tornado outbreaks from Indiana to Alabama had fatal consequences.Entire small towns were razed to the ground by fierce winds that left 31 dead in Indiana,Kentucky and Ohio.A cold air mass from the Rocky Mountains clashed with warm air,resulting in the unusually violent beginning to meteorological spring,which started March 1.
The Phoenix Suns bested the Los Angeles Clippers on Friday night at U.S. Airways Center in Phoenix.Jared Dudley,26,led the Suns to their conquest,scoring the game high 22 points,with 7 rebounds and 4 assists.For L.A.,Blake Griffin topped the stats with 17 points,7 rebounds and 1 assist.The Clippers fell to 21-12 on the year,while Phoenix still lags behind them with a record of 16-20.
The S&P futures dropped 5.70 Friday evening,while bond index futures rose.
Friday, February 24, 2012
Saskatchewan Screamer Reaches East;Patrick Takes Daytona Pole
A late winter storm,the Saskatchewan Screamer,has reached the East coast,giving Connecticut five inches of snow and knocking power out.It had been moving across Colorado and the Dakotas,where it left more than nine inches of snow.It then dropped hail on Georgia and high winds on Alabama,where it ripped off a school roof while 62 children were inside,but escaped unhurt.
Winds from the Saskatchewan Screamer could top 50 mph,or 80 kmh,this weekend,threatening more power lines and disrupting air travel.At 5:16 pm,the Screamer's winds were noted arriving on the Maryland/Pennsylvania border.They were noticeable,but not catastrophic at that point.Winds could reach up to 60 mph,or 96 kmh.
Danica Patrick came back from crashing Thursday to win the pole position on Friday for Saturday's DRIVE4COPD 300 NASCAR Nationwide Series race.She was in her backup car after hitting the wall,caught up in someone else's crash the day before.Patrick is the first woman to take the pole at a NASCAR race since Shawna Robinson in 1994.In the Sprint Series Daytona 500 on Sunday,Patrick will start in 29th position out of 43 because of Thursday's crash.She left Indy car racing to concentrate on stock cars this year,having been the first woman to win an Indy car race and achieved a third place finish at the Indy 500-the best ever by a female driver at that event.
The stock market logged a slight gain for the week,with the S&P 500 Index gaining 0.33%.Volume was extremely light as traders hesitated in the face of headwinds such as the Iranian crisis and a drop in new home sales.
Next week,the calendar has many data points to contemplate,such as durable goods orders,auto sales,the GDP reading,and manufacturing numbers from the Institute for Supply Management.There will also be a European Union summit on Thursday.The S&P futures rose 0.40 Friday evening,and longer maturity bond index futures gained as well.
Update:Danica Patrick finished 38th after being bumped by another car in Saturday's Nationwide Series race at Daytona,having started in the pole position.She will start in 29th out of 43 in Sunday's big Sprint Series Daytona 500 race.The Sprint Series is the major NASCAR racing series.
The Saskatchewan Screamer left property damage from Ohio to Pennsylvania.In Prince George's County,Maryland,seven firefighters were burned when high winds from the Screamer caused a fireball to form while they were fighting a house fire.The oxygen in the wind literally ignited during the house fire.Two of the firefighters were severely burned by it.
Update 2:The Daytona 500 was postponed because of rain.They will try again Monday at noon,but there is more rain in the forecast.
Update 3:Now they will attempt to start the Daytona 500 at 7:02 Monday night.Fox Sports will broadcast starting at 7:00.If it is still raining then,they will consider Tuesday.All the teams have to leave for Phoenix,Arizona by Thursday for this weekend's race there.
Winds from the Saskatchewan Screamer could top 50 mph,or 80 kmh,this weekend,threatening more power lines and disrupting air travel.At 5:16 pm,the Screamer's winds were noted arriving on the Maryland/Pennsylvania border.They were noticeable,but not catastrophic at that point.Winds could reach up to 60 mph,or 96 kmh.
Danica Patrick came back from crashing Thursday to win the pole position on Friday for Saturday's DRIVE4COPD 300 NASCAR Nationwide Series race.She was in her backup car after hitting the wall,caught up in someone else's crash the day before.Patrick is the first woman to take the pole at a NASCAR race since Shawna Robinson in 1994.In the Sprint Series Daytona 500 on Sunday,Patrick will start in 29th position out of 43 because of Thursday's crash.She left Indy car racing to concentrate on stock cars this year,having been the first woman to win an Indy car race and achieved a third place finish at the Indy 500-the best ever by a female driver at that event.
The stock market logged a slight gain for the week,with the S&P 500 Index gaining 0.33%.Volume was extremely light as traders hesitated in the face of headwinds such as the Iranian crisis and a drop in new home sales.
Next week,the calendar has many data points to contemplate,such as durable goods orders,auto sales,the GDP reading,and manufacturing numbers from the Institute for Supply Management.There will also be a European Union summit on Thursday.The S&P futures rose 0.40 Friday evening,and longer maturity bond index futures gained as well.
Update:Danica Patrick finished 38th after being bumped by another car in Saturday's Nationwide Series race at Daytona,having started in the pole position.She will start in 29th out of 43 in Sunday's big Sprint Series Daytona 500 race.The Sprint Series is the major NASCAR racing series.
The Saskatchewan Screamer left property damage from Ohio to Pennsylvania.In Prince George's County,Maryland,seven firefighters were burned when high winds from the Screamer caused a fireball to form while they were fighting a house fire.The oxygen in the wind literally ignited during the house fire.Two of the firefighters were severely burned by it.
Update 2:The Daytona 500 was postponed because of rain.They will try again Monday at noon,but there is more rain in the forecast.
Update 3:Now they will attempt to start the Daytona 500 at 7:02 Monday night.Fox Sports will broadcast starting at 7:00.If it is still raining then,they will consider Tuesday.All the teams have to leave for Phoenix,Arizona by Thursday for this weekend's race there.
Friday, February 17, 2012
Knicks Lose;Market Logs Modest Gain
Jeremy Lin could not get his team to victory Friday night as the New York Knicks lost to the New Orleans Hornets at Madison Square Garden.The 89-85 loss breaks a 7-game winning streak that saw the celebrated point guard emerge from media obscurity.The full glare of the spotlight will be on Lin Sunday as the Knicks play on national television.The game will be carried by ABC beginning at 1 pm Eastern.
Commentator and NBA legend Magic Johnson was critical of Lin's performance.He's got to get a better understanding of the point guard position,Johnson feels.You've got to turn to Amare Stoudemire,who scored 26 points on the night along with Lin.Lin's job is how to win tonight,turning the ball over to Carmelo Anthony and Stoudemire.He must not get caught up in the hype.This was great for Jeremy Lin tonight.It's not all gonna be well.I just want him to go back and watch the films and get better for Sunday,Johnson counseled.
Lin turned the ball over to the Hornets nine times-the worst in his career.
The market did well this week,adding a modest 1.38%,or 8.24 on the year.Positive manufacturing reports from the Empire State and Philly Fed led the way,and hope for a Greek debt deal also assisted.
Next week will be conditioned by the Greek outcome,as well as earnings reprts from Wal-Mart,Home Depot and Hewlett-Packard.In additon,home sales and consumer sentiment numbers will be released.
The S&P futures added 4.89 ahead of the long Presidents' Day weekend,and bond index futures declined.
Wal-Mart(WMT),Home Depot(HD),Hewlett-Packard(HPQ)
Commentator and NBA legend Magic Johnson was critical of Lin's performance.He's got to get a better understanding of the point guard position,Johnson feels.You've got to turn to Amare Stoudemire,who scored 26 points on the night along with Lin.Lin's job is how to win tonight,turning the ball over to Carmelo Anthony and Stoudemire.He must not get caught up in the hype.This was great for Jeremy Lin tonight.It's not all gonna be well.I just want him to go back and watch the films and get better for Sunday,Johnson counseled.
Lin turned the ball over to the Hornets nine times-the worst in his career.
The market did well this week,adding a modest 1.38%,or 8.24 on the year.Positive manufacturing reports from the Empire State and Philly Fed led the way,and hope for a Greek debt deal also assisted.
Next week will be conditioned by the Greek outcome,as well as earnings reprts from Wal-Mart,Home Depot and Hewlett-Packard.In additon,home sales and consumer sentiment numbers will be released.
The S&P futures added 4.89 ahead of the long Presidents' Day weekend,and bond index futures declined.
Wal-Mart(WMT),Home Depot(HD),Hewlett-Packard(HPQ)
Friday, February 10, 2012
Knicks Win,Electric Lin
The New York Knicks' Jeremy Lin was described by his coach Mike D'Antoni as being just an unbelievable point guard,and he certainly justified that description Friday night as he led the Knicks to a 92-85 win over the Los Angeles Lakers at Madison Square Garden.The amazing rookie scored a career high 38 points.
A product of Harvard University,the Asian American said I'm just gonna thank my teammates.It's fun just to play basketball with these guys.I'm just thankful to God.This is my dream.
Surrounded by the media,lionized by fans chanting "MVP" and even congratulated by Lakers players after the game,it could scarcely get more intense for the young man,who has four consecutive 20+ point games to his name,all of them Knicks victories.
The stock market,haunted by Greek troubles and a decline in consumer confidence,did not fare as well.All three major averages declined slightly on the week,with the S&P 500 Index stepping down 0.17%.For the year,the S&P remains in the green,up 6.76.The CBOE VIX Volatility Index climbed 21.58 on the week,signaling a resurgence of fear among the traders.
Next week,the market will deal with a number of reports,including the Empire State and Philly Fed manufacturing readings,as well as the Leading Economic Indicators and retail sales.General Motors,HJ Heinz and Campbell Soup will issue earnings figures.
The S&P futures lost 7.70 Friday evening,while bond index futures gained.
HJ Heinz(HNZ),Campbell Soup(CPB),General Motors(GM)
A product of Harvard University,the Asian American said I'm just gonna thank my teammates.It's fun just to play basketball with these guys.I'm just thankful to God.This is my dream.
Surrounded by the media,lionized by fans chanting "MVP" and even congratulated by Lakers players after the game,it could scarcely get more intense for the young man,who has four consecutive 20+ point games to his name,all of them Knicks victories.
The stock market,haunted by Greek troubles and a decline in consumer confidence,did not fare as well.All three major averages declined slightly on the week,with the S&P 500 Index stepping down 0.17%.For the year,the S&P remains in the green,up 6.76.The CBOE VIX Volatility Index climbed 21.58 on the week,signaling a resurgence of fear among the traders.
Next week,the market will deal with a number of reports,including the Empire State and Philly Fed manufacturing readings,as well as the Leading Economic Indicators and retail sales.General Motors,HJ Heinz and Campbell Soup will issue earnings figures.
The S&P futures lost 7.70 Friday evening,while bond index futures gained.
HJ Heinz(HNZ),Campbell Soup(CPB),General Motors(GM)
Friday, February 3, 2012
Celtics Continue Streak;Economy Looking Strong
The Boston Celtics won their third game in a row Friday night at TD Garden in Boston,edging past the New York Knicks 91-89.Ray Allen put Boston ahead with a three-pointer in the 4th period,followed by another three and a two.
The Celtics defense stopped the Knicks in the second half.Our defense is keeping us around the game,Boston coach Doc Rivers told his team.Your energy is good.
The Celtics have won seven of their last eight games.Carmelo Anthony has returned to the court for the Knicks,but his 26 points on the night weren't enough to overcome the Boston defense in the second half.
The Denver area is overcoming something most of the rest of the country hasn't seen much of this winter: heavy snow.Denver itself reports 13 inches of accumulation,but the foothills of the Rockies west of the city got up to four feet,or just over one meter of snow.
The market had a smooth journey on Friday when the unemployment rate dropped to 8.3% for January-its lowest level since February 2009,and the economy added a better than expected 243,000 jobs.The Institute for Supply Management also reported bigger than predicted growth in both the manufacturing and service sectors for January.For the week,the S&P 500 Index rose 2.17%,yielding a gain of 6.94 on the year.
Next week,earnings season continues with data coming in from Disney,Coca-Cola,PepsiCo,Visa and Time Warner Communications.Consumer sentiment will be reported on Friday.
The S&P futures climbed another 16.40 Friday evening,while bond index futures dropped.
PepsiCo(PEP),Coca-Cola(KO),Disney(DIS),Visa(V),Time Warner Communications(TWX)
The Celtics defense stopped the Knicks in the second half.Our defense is keeping us around the game,Boston coach Doc Rivers told his team.Your energy is good.
The Celtics have won seven of their last eight games.Carmelo Anthony has returned to the court for the Knicks,but his 26 points on the night weren't enough to overcome the Boston defense in the second half.
The Denver area is overcoming something most of the rest of the country hasn't seen much of this winter: heavy snow.Denver itself reports 13 inches of accumulation,but the foothills of the Rockies west of the city got up to four feet,or just over one meter of snow.
The market had a smooth journey on Friday when the unemployment rate dropped to 8.3% for January-its lowest level since February 2009,and the economy added a better than expected 243,000 jobs.The Institute for Supply Management also reported bigger than predicted growth in both the manufacturing and service sectors for January.For the week,the S&P 500 Index rose 2.17%,yielding a gain of 6.94 on the year.
Next week,earnings season continues with data coming in from Disney,Coca-Cola,PepsiCo,Visa and Time Warner Communications.Consumer sentiment will be reported on Friday.
The S&P futures climbed another 16.40 Friday evening,while bond index futures dropped.
PepsiCo(PEP),Coca-Cola(KO),Disney(DIS),Visa(V),Time Warner Communications(TWX)
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