Gina Francolla is the Senior Producer of Quantitative & Market Data Services at CNBC.
The equity markets end a strong week fueled by earnings, commodities continue to climb, and the dollar strengthens.
As crude oil is at a new all-time record closing in on $115 per barrel and up almost 20% year-to-date, jet fuel costs have soared, and are up 25% since January 25th.
For the week ending Friday, April 11, 2008 the US Markets ended the week in negative territory. There was not a lot of movement in the markets for most of the week, as the major indices traded on a mix of news including same store sales, record highs in oil, flight cancellations from major airlines, and disappointing first quarter results from Alcoa (AA). The markets tumbled on Friday on General Electric's (GE) disappointing earnings.
The Dow, NASDAQ and the S&P 500 are all negative for the week fueled by GE's almost 13% decline on Friday.
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For the week ending Friday, April 4, 2008 the US Markets all ended the week up over 3% or more holding on to the gains from Tueday's big rally. This is the third consecutive week of gains for the NASDAQ, something it has not had since October of last year.
The equity markets end the week sustaining their gains from the April Fool's rally with the NASDAQ once again in the lead, in the positive for the last three weeks.
For the week ending Friday, March 28, 2008 the US Markets ended mixed after starting on a high note Monday extending last week's market rally. The winning streak came to an end on Tuesday when the Dow closing down for the first time in three sessions. The NASDAQ had the strongest performance of the week managing a positive gain despite weak earnings from Oracle and poor performance from Google . Economic data dragged on the markets with consumer sentiment and confidence at low levels and negative housing data.-Next week the markets will watch Friday's jobs report for evidence of recession, and any revisions on guidance as we move into earnings season. Alcoa kicks off "official" earnings season on Monday, April 7th after the bell. The big companies for next week all hit on Wednesday with RIM , Monsanto and Best Buy all reporting earnings.
The major U.S. indexes were a mixed bag this week, all close to flat, commodities halt their record setting pace, and the US dollar manages to hold its ground against most major currencies.
Senators Obama and Clinton are all about the economy today. The battle between the two Democratic candidates has heated up in the last weeks with issues on race and Obama's former pastor and Clinton's incorrect recollection of Bosnia sniper fire, but today the candidates focus on our sweet spot, the economy.