chartIt seems like the rally just fails to quit. The markets this week continued to push forward and closed at some very ironic numbers. One day before the September 11th attacks, the DOW closed at the same price as it closed today. Pure coincidence of course, but an interesting one. Even with the 5 day rally streak for the day ending was over, the markets did pull upwards 2% for the week. Certainly not a bad return.

A few stocks that did well for the week were the likes of Procter and Gamble (PG) which was up more than 5%. General Electric (GE) was up 6% and was a stock I pegged to fall but I was wrong on that one. With gold at a 7 month high at $1011/oz its again looking like people are still pulling into safety. But on the other hand. FedEX came out and boosted guidance. This boost would impact a broad spectrum of stocks as FedEx would only thrive if business were thriving and needing to utilize shipping services. So if production is creeping up, that could be a signal that more jobs will coming back into the works with greater manufacturing. For those looking for jobs, always be aware that sales/retail is the first to come up as they are the top end revenue earners for a company. So if your looking for jobs, look specifically in this sector for an easy footing into a company.

Here is the market summary for the week:

News:
Campbell Soup’s 4Q Earnings Fall 22%; Earnings Beat (CPB).

An Epidemic of Capital Destruction’ –REALLY GOOD READ!

US gold ends above $1,000/oz in flight to quality.

Now for the coming week we are approaching that dreading anniversary of when the markets started to melt down. We have bounced back significantly but that is the key thing to consider, how fast was the recovery and how is that going to be sustained? Its not! Oil prices do not look like they can sustain at these current prices with lower demand and more smaller more efficient cars and scaled back productions which are in line with demands. Stocks are not up in double digit % but some have doubled, tripled or more! I’m still cautious. My money are my employees and they don’t need to be but in risky situation where I know it will be hard to get them back.

Hope you all profited this week.

Happy Investing!

Aman, MBA

Related posts:

  1. Markets Continue in Green on Tuesday On Tuesday, energy and materials companies led broad market gains...