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

SA Editor
Roy Mehta

About this author:
Become a Contributor Submit an Article

This article has 2 comments:

  • May 17 08:18 AM
    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
  • May 17 08:20 AM
    My e-address is mehtamd@msn.com. Would appreciate it, if Mr.Roy Mehta can write to me. Thank you.
    Chetan Mehta
  • Long Ideas

  • Short Ideas

  • Cramer's Picks

SA Partners

Hedge Fund Jobs

Job Seekers:

  • Search jobs by category
  • Get job alerts by email or live feed
  • Apply online
See full list of jobs »

Employers

  • See all recruitment options
  • Get applications online or by email
Post a job »

Trading Center