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Bob Carey
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  US Stocks Week Ended December 30, 2011
Posted Under: Weekly Market Commentary

 
It was a slow week in the markets as there were few headlines to report between Christmas and New Year's. The S&P 500 closed out 2011 at 1257.60, only .04 points below where it began in 2011. The year had many surges and false starts as investor sentiment remain mixed throughout the year.  The S&P 500 P/E multiple compressed this year from 17.5 to 14.46, reflecting the S&P's growth in earnings. While individual headlines this week were few and far between, there were some to report. Sears Holdings reported disastrous same stores sales figures, which were down 5% from the previous year. The beleaguered retailer announced they would close as many as 120 stores nationwide as it seeks to regain the store's past success. The stock dropped more than 30% in last week's four trading days. However, it was not all bad news for retailers as many stores announced better than expected Christmas sales figures. Instead of enjoying the holiday week, Verizon Wireless spent it dealing with frustrated customers who were upset with the company's proposed $2 "convenience fee" for those customers opting to pay their wireless bills online. After 24 hours of dealing with complaints, the company gave their subscribers a belated Christmas gift by cancelling the ill-advised fee. Kicking off 2012, the year will start with some economic data to report. Wednesday the US Census Bureau will report factory orders for the month of November, ADP will release their survey of private employment, followed by the US Labor Department's release of their job figures.
Posted on Tuesday, January 3, 2012 @ 7:59 AM • Post Link Share: 
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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.
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