Earnings and commodities ruled the week. The NASDAQ led the major US indexes in gains up almost 1% for the week. Apple had the most positive impact on the NASDAQ 100 , responsible for almost 7 points of its weekly gain on its earnings news and over $1B in profits.
-The S&P 500 closed above 1,395 breaking through the February highs and a major resistance level .
The S&P 500 sectors were mixed this week with 6 out of 10 sectors gaining for the week led by Telecom, up almost 4% for the week with Sprint Nextel in the lead gaining almost 19% this week.
-In last week's report we noted that Sprint was the worst performing company in Telecom year-to-date, which is still the case, but the company has moved up off of its lows.
-Year-to-date, the top performing sectors continue to be Materials and Energy.
Earnings and commodities ruled the week. The NASDAQ led the major US indexes in gains up almost 1% for the week. Apple had the most positive impact on the NASDAQ 100 , responsible for almost 7 points of its weekly gain on its earnings news and over $1B in profits.
-The S&P 500 closed above 1,395 breaking through the February highs and a major resistance level .
Commodities are all about oil this week with crude hitting a new record close of $119.37 per barrel and a new intraday high $119.90 on April 22nd.
-Oil surged again on Friday, touching $119.55 before reversing, on continued disruptions in Nigeria and the UK as well as the news of the U.S. military firing warning shots at boats in the Gulf.
Earnings and commodities ruled the week. The NASDAQ led the major US indexes in gains up almost 1% for the week. Apple had the most positive impact on the NASDAQ 100 , responsible for almost 7 points of its weekly gain on its earnings news and over $1B in profits.
-The S&P 500 closed above 1,395 breaking through the February highs and a major resistance level .
The US Dollar gains against most major currencies on negative economic news in the Eurozone and expectations that the ECB would cut rates and that the Fed might signal a pause.
Earnings and commodities ruled the week. The NASDAQ led the major US indexes in gains up almost 1% for the week. Apple had the most positive impact on the NASDAQ 100 , responsible for almost 7 points of its weekly gain on its earnings news and over $1B in profits.
-The S&P 500 closed above 1,395 breaking through the February highs and a major resistance level .
