The markets close out a negative week with a late day rally on the expected nomination of Timothy Geithner to the position of Treasury Secretary on Monday, with all the major indexes up 5% or greater on the day. The Dow closes above 8,000 swinging more than 622 points Friday, ending a volatile week that saw the VIX top 80 again and oil close below $50 per barrel.
*In the S&P 500, as of Friday, 105 of its constituents closed below $10 per share.
*The FTSE CNBC Global 300 index ends the day in positive territory as the US markets rally, after Europe closed lower.
-Hewlett-Packard had the most positive impact on the Dow up almost 14% for the week
*Wal-Mart is the only Dow component to hold onto positive gains for the year up over 11% YTD
-JPMorgan had the most negative impact on the Dow & the S&P 500, down over 34% for the week
-Exxon had the most positive impact on the S&P 500, up almost 3% for the week.
-Research in Motion had the most positive impact on the NASDAQ 100, up 12% for the week, 1 of 6 positive constituents for the week including FAST, INTU, APOL, NTAP, CTAS
-Logitech had the most negative impact on the NASDAQ 100, down almost 3% for the week
10 out of 10 S&P sectors were negative for the week led by Financials down almost 24% for the week. Utilities were the least negative, losing only about .02% for the week.
*On Friday 10 out of 10 sectors were positive, led by energy up almost 12% for the day
• Financials were dragged down by Hartford Financial down almost 61% for the week
• Utilities were helped by FirstEnergy up almost 8% for the week
Oil settles at $49.93 per barrel, down 13.32% for the week, at levels not seen since May, 2005.
• YTD Oil is down almost 48%
• The AAA current national average for regular gas falls below $2 to $1.989 per gallon down 35.57% from a year ago when the average was $3.087 per gallon
The US Dollar Index is up about 2% for the week as the forex markets respond to the volatility in the markets.