The Market with Ozzy
Market Statistics, News, Sectors of S&P 500, Fixed Income, Economic Calendar and more…Archive for Weekend Section
Weekly wrap up
Stocks spent most of the Friday in red until the last 45 minutes of trading. The trend was rather sharp yet it lacked the volume. S&P 500 managed to finish the week with a choppy gain, up around 1.6%. Energy sector was one of the major winner sectors of S&P . It was up almost 6.5% mid-week however, participants decided to take profit and pulled the sector back a bit to a 4% gain for the week.
30-year treasury yield finished the week at 4.64%. Treasuries have been on a steep decline in the past 20 years. In July 1989 the yield for a 30-year treasury was finding buyers at 9.07%
In the next week’s economical calendar, we have 4 market moving indicators, three on Tuesday and one on Wednesday.
On Monday at 1pm, will be released the housing market index data. On Tuesday there are several market movers; housing starts at 8.30am, PPI ( Producer Price Index) at 8.30am and finally the Industrial production at 9.15am. Wednesday will bring us the CPI (Consumer Price Index) at 8.30am.
On Thursday at 8.30am jobless claims data will be released.
Also, in the next week’s earnings highlights, Goldman Sachs (GS) is expected to release their quarterly report on Monday. Research in Motion (RIMM) is on Thursday.
Coming Week
Although S&P 500 finished the week with almost a 17 point gain, it pulled back from fresh year highs -On one note, S&P is at its best levels since November 5, 2008. It ended being a choppy day though. Investors took profit in the morning from the “improving” unemployment news, pushing the market down. Afterwards stocks traded in a mixed fashion. Technology and Industrial Sectors were leading S&P with some moderate gains, up 0.99% and 0.85% respectively. Materials and Financials were the worst performing sectors, down 1.43% and 0.88% respectively. Financial sector has been very volatile in the past year, especially the past 5 months. It had a year-low of 5.88, which was actually on March 13, 2009, and a year-high of 13.08 on May 8. The index is now changing hands at 12.32.
Apple Inc. (AAPL) finished the day with a small gain, up $0.93 a share after the news came out implying that Steve Jobs is coming back from his medical leave.
Meanwhile, when dollar made a comeback from session lows, crude oil shed its early gains, down to $68.51 a barrel. Gold futures also stumbled when the unemployment number suggested that the worst is over. It is now trading at $955.10 an ounce (Gold has always been a safe alternative investment to the stock market and the dollar).
Treasuries are under heavy pressure. Immediately after the unemployment data numbers came out the the 10year and 30 year Treasuries made a sharp down turn, pushing their yields up 3.84% and 4.63% respectively.
CBOE volatility index (VIX) finished the week under 30, trading at 29.62.
All the sectors of S&P 500 advanced last week. Historically, June is one if the choppy months. It has an average of 0.07% gain where an average gain for any given month is 0.64%.
In the economical calendar next week, there are some market moving economical news. International trade data will be released on Wednesday, June 1oth. It will be followed by retail sales on Thursday the 11th.
