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Week in Review


It's a slow ride...Take it easy!


Market Recap:

The "Four Sisters" extended their rally this week as the economic data pointed toward a "soft landing" and a goldilocks scenario for the world's largest economy. The eldest sister dredged higher toward its psychologically important level of 12,000 while the NASDAQ and Russell climbed the ladder back to their mid-May levels.

At these current levels, we feel the "Four Sisters" may need to take a breather as earning season gets into full gear next week. The recent volume on all indices has been decent at best and this lack of conviction makes us hesitant in the short term. However, as stated before, the 4th quarter could provide many opportunities for the bulls if earnings continue to be strong and the economic data shows a slowing but steady economy

The "Four Sisters" Performance

ETF Watch

Top Headlines

The United Nations has moved closer to issuing sanctions against North Korea for its nuclear test last weekend. Military action is not expected. (Fri 13th)

The beige book showed the economy could be heading into a "goldilocks" environment with most districts reported moderate or mixed growth. (Thurs 12th)

Internet giant Google (GOOG) will buy online video company YouTube for $1.65 billion in stock. (Tue 10th)

Bank of America (BAC) will offer 30 free online trades per month for clients with at least $25,000 in their accounts. Discount brokers such as Ameritrade (AMTD), ETrade (ET), and Charles Schwab (SCHW) were adversely affected. (Wed 11th)

Retail sales fell in the month of September because of a sharp drop in gasoline sales. However, excluding the drop in gas prices, retail sales actually increased by 0.6%. Lower energy costs also helped raise consumer confidence in September which bodes well for the upcoming holiday season. (Fri 13th)

Earnings Snapshot

General Electric (GE) reported a 6% rise in quarterly profit on higher than expected revenue. (Fri 13th)

Aluminum producer Alcoa (AA) reported an 86% spike in quarterly profit, but still fell short of Wall Street estimates. (Tue 10th)

Fast food conglomerate Yum Brands Inc. (YUM) reported strong 3rd quarter figures and boosted its guidance fueled by strong demand in China. (Wed 11th)

PepsiCo (PEP) forecasted sales below Wall Street expectations as the beverage maker is experiencing higher cost pressure. (Thurs 12th)

Investors sent shares of drug maker Genentech Inc. (DNA) lower over concerns about cancer drug sales. (Wed 11th)

Market Movers: Winners and Sinners

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No positions in stocks mentioned.

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