Saturday, July 15, 2006

Week in review

Stocks don't move up in a straight line. They never have and they never will. It's always two steps forward, one step back. Sometimes that one step backward is a little hard to take, especially if it's been awhile since the last significant pullback, as is the case now. And as long as global unrest and high oil prices dominate the headlines, this market will continue to struggle.
  • DJIA dropped 351.32 this past week, 3.17% to finish at 10,739.35. Pretty ugly.
  • Nasdaq Composite fell 92.71 points, 4.35% this past week to finish at 2037.35.
  • S & P 500 dropped 29.28 points, 2.31% and finished up at 11236.20.
  • 10-year Treasury yield fell again this week and ended down 0.067 percentage points to 5.071%. It's really struggling to get very far beyond 5%.
  • Oil again was the big story for the week as things are really heating up between Israel and Lebanon. Crude finished yesterday at $77.03 after having traded above $78 for awhile.

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