Week in Review
A recap of the week that was...
The DJIA, Russell, and the S&P 500 were under pressure this week, while the NDX showed relative strength after lagging the broad market for the past several weeks behind Cisco's (CSCO) earnings. However, with the recent bad sentiment coming from the sub prime mortgage arena, investors are left to wonder if this bad credit will "spill over" into the equity markets. Commodities had a strong week, particularly oil and gold. Oil prices soar this week as a result of several macroeconomic factors. These factors being a prolonged winter, conflict in Nigeria, and diplomatic tension between the U.S. and Iran. Gold is currently trading at an eight month high. I feel this action in the yellow fellow is the beginning of a move higher towards its early May highs.
The Four Sisters Performance
Oil prices surpassed $60/bl Friday primarily due to a prolonged winter in the U.S., tension between the U.S. and Iran, and violence in Nigeria.
Blackstone Group won the heated bidding war for office management giant Equity Office Properties Trust, resulting in the largest private equity takeover in U.S. history
Market outlook in the housing market did not improve as the gap between Supply and Demand is still too great.
The sub prime mortgage market worsened as bad credit was more than originally anticipated. (Fri 9th)
Cisco's (CSCO) stock jumped on Monday after earnings report and increased sales forecast for its upcoming quarter. (Wed 07)
Walt Disney's (DIS) bottom line benefitted as the entertainment giant unloaded shares of US Weekly magazine and !E entertainment channel. Wed 07)
Las Vegas Sands (LVS) stock took a hit despite beating profit estimates, as the bottom line did not represent the company's current position.(Mon 05)
MasterCard (MA) did not meet analysts' estimates and fell sharply in trading on Friday. (Fri 09)
Investor confidence was lackluster as Gateway (GTW) reported a decline in revenue, as the number three computer manufacture continues to lose market share. (Fri 09)
Marriot (MAR) shares were lifted Thursday after the company raised its guidance for 2007. (Thurs 08)
Market Movers: Winners and Sinners
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