The Dow dips below 11,000 intraday on Friday for the first time since July, 2006. The CBOE volatility index hits an intraday high of 29.44, the highest level since March 19th, all while oil strengthens and the US dollar falls.
-Chevron had the most negative impact on the Dow this week, down more than 6%
-Exxon Mobil had the most negative impact on the S&P 500 down more than 3% for the week
-Cisco was the biggest drag on the NASDAQ 100 by impact, down almost 6% for the week
The S&P 500 sectors were mixed for the week led by the Financials to the downside by over 6% for the week, and Health Care to the positive, up over 1% for the week.
-Financials were impacted most by Freddie Mac and Fannie Mae both down more than 45% for the week.
-Health Care was buoyed by Schering Plough , up almost 8% for the week.
-Chevron had the most negative impact on the Dow this week, down more than 6%
-Exxon Mobil had the most negative impact on the S&P 500 down more than 3% for the week
-Cisco was the biggest drag on the NASDAQ 100 by impact, down almost 6% for the week
Oil hits a new intraday record of $147.27 per barrel on Friday before settling at $145.08 per barrel.
The U.S. Dollar loses ground against most major currencies on Freddie and Fannie capitalization concerns as well as spiking oil prices.
