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Week in Review

By

See you Monday!

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Market Recap

The "Four Sisters" did not begin the post holiday week on good footing as stocks sold off on higher volume. The markets were faced with soft Wal-Mart (WMT) sales, higher oil prices, and a "sick" greenback. Encouraging words from Big Ben helped the "Four Sisters" catch a bid, but more troubling economic data came later in the week from manufacturing data.

The weak economic news sent the dollar to a 14-year low against the pound as traders now expect the Federal Reserve to cut interest rates sooner rather than later. The yield on the 10 year dropped to 4.404, a level we have not seen since January as the bond market prices in an upcoming economic slowdown. Texas tea jumped to a 2-month high this week as inventory levels were depleted more than expected.

The "goldilocks" scenario for the U.S. economy may just be too good to be true…at least that's what the bond market is saying for now.

The "Four Sisters" Performance



ETF Watch



Top Headlines

U.S. durable good orders for the month of October fell more than expected sparking fears of a hard economic landing. (Tue 28th)

Wal-Mart (WMT) said it expects weak December sales from stores open at least a year as its clothing and home décor segments continue to struggle. In related news, Wal-Mart announced that it will open retail stores in India. (Mon 27th)

The November reading of the Chicago Purchasing Management Index (PMI) fell to its lowest level since April of 2003. The ISM Manufacturing Index was below 50 signaling contraction for the first time since 2003. (Thurs 30th & Dec 1st)

President Bush met with Iraqi Prime Minister Nouri al-Maliki to discuss speeding up the training of Iraqi troops. (Thurs 30th)

Overall retail sales for November were a bit light despite heavy shopper turnout for the first week of the holiday shopping season. (Thurs 30th)

The U.S. dollar hit a 14 year low versus the pound and a 20 month low against the Euro on the heels of weak economic data. (Fri 1st)

Earnings Snapshot

Ketchup and food product maker H.J. Heinz Co. (HNZ) reported a 6% dip in quarterly profit as a higher tax rate and discontinued operations clipped the bottom line. (Thurs 30th)

Tiffany & Co. (TIF) dazzled investors with a strong quarter and raised guidance as the holiday shopping season has gotten off to a better than expected start for the upscale jeweler. (Wed 29th)

Shares of TiVo Inc. (TIVO) went sharply lower after issuing 4th quarter guidance which did not meet expectations. (Thurs 30th)

Recording company Warner Music Group (WMG) posted a quarterly profit, but revenue failed to meet Wall Street expectations. (Fri 1st)

Market Movers: Winners and Sinners

No positions in stocks mentioned.

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