Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Week in Review


A look back at the week that was...


Market Recap

The "Four Sisters" rose this week led by the NDX as she broke out to a multi-year high. The large caps have yet to confirm this breakout as the SPX sits under its short-term resistance level of 1534. The holiday shortened week was boosted by strong M&A activity to start the 3rd quarter highlighted by Blackstone's (BX) acquisition of Hilton Hotels (HLT). 2007 is well on pace to set a new record in financing deals worldwide.

Friday's payroll number coupled with strong economic data for the week sent the yield on the 10-year to its highest level in two weeks. Oil prices climbed after the holiday over renewed Nigeria concerns and lower than expected refinery use. Higher oil prices and a weaker dollar gave precious metals a lift. Next week earnings season begins to unfold as Alcoa (AA) reports on Monday.

The Four Sisters Performance

ETF Watch

Click to enlarge

Top Headlines

The ISM Index came in at 56% versus expectations of a rise of 55% during May, representing the highest reading since April 2006. (7/2)

Private-equity firm Kohlberg Kravis Roberts filed for a $1.25 bln IPO to take place sometime during the third or fourth quarter of 2007. (7/3)

The Commerce Department reported that factory orders fell 0.5% in May against consensus estimates of 0.3%. (7/3)

Blackstone (BX) announced it would acquire Hilton Hotels (HLT) for $26 bln, representing a premium of 32% over the previous close. (7/3)

According to the ADP Employment report, the private sector added 150,000 jobs during June beating expectations of 130,000. (7/5)

The ISM non-manufacturing index rose to 60.7% from 59.7% during May, which represents the highest reading on the index since April 2006. (7/5)

The Bank of England raised their key rate to 5.75% as expected. The bank's monetary-policy committee expects inflation to return to their target rate of 2% during the course of the year. (7/5)

Advanced Medical (EYE) announced a bid for Bausch & Lomb (BOL) at $75 a share, which tops a bid from Warburg Pincus for $65 a share. (7/6)

According to the Labor Department, non-farm payrolls rose 132,000 against expectations of 130,000. Unemployment remained at 4.5% during June while average hourly wages and the number of hours worked rose. (7/6)

Treasuries sold off and yields rose as high as 5.25% in early-morning trading on Friday following strong economic data include the employment report. (7/6)

The Shanghai Composite ended a volatile week up 4.6% after falling 5.3% on Thursday amid concerns that the government could take some additional steps to cool the stock market. (7/6)

Market Movers: Winners and Sinners

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely= reflects the analysis of or opinion about the performance of securities an= d financial markets by the writers whose articles appear on the site. The v= iews expressed by the writers are not necessarily the views of Minyanville = Media, Inc. or members of its management. Nothing contained on the website = is intended to constitute a recommendation or advice addressed to an indivi= dual investor or category of investors to purchase, sell or hold any securi= ty, or to take any action with respect to the prospective movement of the s= ecurities markets or to solicit the purchase or sale of any security. Any i= nvestment decisions must be made by the reader either individually or in co= nsultation with his or her investment professional. Minyanville writers and= staff may trade or hold positions in securities that are discussed in arti= cles appearing on the website. Writers of articles are required to disclose= whether they have a position in any stock or fund discussed in an article,= but are not permitted to disclose the size or direction of the position. N= othing on this website is intended to solicit business of any kind for a wr= iter's business or fund. Minyanville management and staff as well as co= ntributing writers will not respond to emails or other communications reque= sting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.



Featured Videos