News That Moved Friday's Market

U.S. Markets

Dow -5.86 (-0.05%)
Nasdaq -4.88 (-0.19%)
S&P 500 +1.78 (+0.13%)

News That Moved the Market

Crude Spikes While Consumer Sentiment Drops. Stocks ended mixed Friday, as the health of the consumer came into question. Crude for June delivery finished at $126.26/barrel, up $2.17, but traded as high as $127.82. Worries over Iran cutting its daily output and an increase in Goldman Sach's price-view for crude fueled demand, but buying eased after Saudi Arabia's oil minister said his country will increase output by 3.3%. While oil was on its way higher, the Reuters/University of Michigan preliminary index of consumer sentiment came out with its lowest reading in 17 years. Higher energy and food prices combined with a weak housing market have left consumers still believing the worse is yet to come, despite recent indications that perhaps we have seen the bottom. Though the retail sales number earlier this week showed signs of strength in the consumer, the Friday's data may have been a warning of weakness to come.

Quick Tics: Housing Starts came in above expectations, but was forgotten after the open…Gold closed $20.50 higher, finishing just above $900/ounce.

Tomorrow

Notable Earnings (Full List Here):
Lowe's Companies (LOW) Before Open

Economic Events:
10:00 AM: Leading Indicators

Comments

[Bharat:]

Would love to email chat with Roy Mehta. I am a third year finance and economics majors student at Smith Business school of University of Maryland. This summer, I have elected to do research paper on Options Pricing and need some guidance from Mr. Mehta.
Chetan Mehta

2008 May 17 08:18 AM

[Bharat:]

My e-address is [e-mail]. Would appreciate it, if Mr.Roy Mehta can write to me. Thank you.
Chetan Mehta

2008 May 17 08:20 AM