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Saturday, November 6, 2010

Stock Market:Looking Forward to Next Week!


The coming week should be relatively tame. There's no Federal Reserve meeting. There's no jobs report.

But there are important earnings to consider, from Cisco, Walt Disney, Macy's and NVIDIA.


The most important economic report will be Wednesday's report on oil inventories and Thursday's report on initial jobless claims. Friday brings the University of Michigan Consumer Sentiment Index.


Stocks will be affected all week by commodity prices. These, in turn, will be affected by the dollar.
As the dollar has fallen, gold, silver, copper and crude oil have moved higher.


Gold could well top $1,400 this week for the first time, and Goldman Sachs says it could hit $1,650 an ounce within the next year.


Crude oil ended the week at $86.85 a barrel, and there's talk it will hit $90 next week and perhaps $100 a barrel.



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