Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Stocks Week Ended October 14, 2011
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
The S&P 500 ended the week up 6%, the index's largest weekly percentage gain since 2009, as investors became more sanguine.  Market advances were driven by news that French and German leaders will announce a comprehensive plan to shore up Euro zone banks by the end of this month. Global markets responded favorably to the announced rescue of French-Belgian bank Dexia, a lender heavily exposed to troubled Greek sovereign debt.  In addition, Dexia is a major buyer of US municipal government debt. Also contributing to the week's gains were strong data emanating from retail sales which jumped 1.1% in September, its largest increase in seven months. Internationally, China's trade data showed signs of weakening as exports and the country's trade surplus decreased.  This week marked the start of earnings season with aluminum maker, Alcoa reporting weak earnings.  The company attributed the quarter-over-quarter decline to a slump in aluminum prices and an increase in costs.  Pepsico had a strong quarter reporting EPS of $1.31 compared to a consensus of $1.30.  The company also reported strong revenue gains of 13% while reaffirming management's revenue and earnings outlook. Headaches spread globally for Blackberry users and Research In Motion executives alike, as outages plagued handsets. Throughout the week, the company struggled to fix outages, further damaging the company's reputation for reliability. Research in Motion shares are down 58% year-to-date. Conversely, Blackberry rival, Apple reported record pre-orders exceeding 1M for its new phone, the iPhone 4s. JP Morgan shares fell 4.82% after the company reported a decrease in profit driven by anemic investment banking and trading results while providing a cautious outlook for 2012. Next week, the market will look to several key earnings announcement for direction. IBM, Apple, Johnson & Johnson, Morgan Stanley, Microsoft, and Southwest will all be reporting earnings and hopefully providing greater insight into the health of the global economy.
Posted on Monday, October 17, 2011 @ 8:18 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
•Market Commentary Video
•Weekly Market Commentary
•Weekly Market Watch
•Monthly Talking Points
•Quarterly Newsletter
•Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
• Perspective on the 3rd Quarter
• Preferred Securities Offer Edge Over Common Shares of Financials in Current Climate
• Companies Have Plenty Of Room To Boost Dividends
• Talking Points - A Recap of September 2011
• Sell-Off in High Yield Corporate Bonds Pushes Yields Back to Longer-Term Norm
• Dollar Beating All Assets in September Undermines S&P U.S. Debt Downgrade - Bloomberg.com
• Why U.S. Stock Funds Could See Year-End Rally - MarketWatch.com
• Come in off the Ledge
• Adding High-Dividend Stocks to Your Portfolio
• US Stocks Week Ended September 23, 2011
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2023 All rights reserved.