Market Summary 10/21/2010

Stock Market Closing Prices – 10/21/2010

Dow ( DJIA ) Close      -            11146.57       +38.60

Nasdaq                      -             2459.67          +2.28       

S&P 500 Close             –            1180.26           +2.09

Commodities Closing Prices  –  10/21/10

Gold Close     -        1324.70

Oil Close        –           81.01

Natural Gas    –            3.40

The Dow closed up 39 points to 11147 today, as stock market rallied in the morning, pulled back in the afternoon, and then rallied again at the close.

Initial jobless claims fall and confidence rises. McDonals’s reported better-than-expected quarterly results.

Gold was down $18.60 to $1,325.60 an ounce. Crude oil settled down $1.98 to $80.53 a barrel.

The S&P-500 jumped above 1,185 and started to fall back. Technical analysts had expected 1,185 to act as a support level and a trigger to start new buying. 

Economic Data: Oct. 22, 2010

Verizon Communications is set to report quarterly results before market open.

Honeywell is slated to report results for the quarter before market open.

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Market Summary 10/20/2010

Stock Market Closing Prices – 10/20/2010

Dow ( DJIA ) Close      -            11107.97       +129.35

Nasdaq                     -                 2457.39           +20.44       

S&P 500 Close            -             1178.17            +12.27

Commodities Closing Prices  –  10/20/10

Gold Close     -        1343.30

Oil Close        –           81.85

Natural Gas    –            3.52

The Dow closed to 11108 today, as stock market makes a big turnaround, gains 129 points.

The market recovered most of its Tuesday losses , thanks to falling dollar that boosted commodity prices. Plus , there were strong earnings from Boeing, Wells Fargo and airlines and others.

Gold settled up $8.20 to $1,344.20 an ounce. Crude oil for December delivery added $2.38, to $82.54 a barrel.

Futures trading suggests today's momentum will continue Thursday. 

Economic Data: Oct. 21, 2010

U.S. jobless claims data released. 8:30 a.m.

Caterpillar is scheduled to report quarterly results before market open.

McDonald's is slated to report results for the quarter before market open.

Market Summary 10/19/2010

Stock Market Closing Prices – 10/19/2010

Dow ( DJIA ) Close      -            10978.62       -165.07

Nasdaq                       -            2436.95           -43.71       

S&P 500 Close             –             1165.90           -18.81

Commodities Closing Prices  –  10/19/10

Gold Close     -        1336.00

Oil Close        –           79.49

Natural Gas    –            3.51

The Dow closed at 10979 today, as stock market fell because of Bank of America’s bad mortgage loan practices.  The Dow dropped late in the afternoon after news reports said that several companies were preparing to sue the Bank of American.

Gold settled down $36.10, to $1,336 an ounce in New York.  Crude oil fell $3.59, to $79.49 a barrel, the biggest one-day loss since Feb. 4. 

The Chinese rate hike was the surprise of the day. The concern among investors is that the move is a signal that Chinese economic growth won't be as fast as expected. That will cut demand globally for raw materials and for construction and other kinds of equipment. 

Economic Data: Oct. 20, 2010

Federal Reserve Board releases Beige Book for October. 2 p.m.

Wells Fargo is expected to report its results for the quarter. Before market open.

Boeing is scheduled to report quarterly results. Before market open.

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Market Summary 10/18/2010

Stock Market Closing Prices – 10/18/2010

Dow ( DJIA ) Close      -            11143.69       +80.91

Nasdaq                     -              2480.66         +11.89       

S&P 500 Close            -                   1184.71          +8.52

Commodities Closing Prices  –  10/18/10

Gold Close     -        1376.70

Oil Close        –           82.58

Natural Gas    –            3.65

The Dow were up 81 points to 11144 as stocks rise on earning and housing report.

The Citigroup reported better-than-expected earning result in the morning, and a key homebuilder confidence index jumps unexpectedly.

After hours, APPLE and IBM reported lower-than-expected results , shares of both companies drop. AAPL were down 5.7% to $299.85 after hours. The shares has risen to $318 in regular trading and hit a new high of $319.

IBM shares were off 3.8% to $137.66 after hours.

The decline for both stocks could affect markets on Tuesday.

Crude oil rose $1.83 to $83.08. Gold settled up 10 cents to $1,372.10 an ounce. The dollar was slightly lower against major currencies. 

Economic Data: Oct. 19, 2010

U.S. September housing starts. 8:30 a.m.

Bank of America is scheduled to report quarterly results before market open.

Johnson & Johnson is slated to report results for the quarter before market open.

Coca-Cola Co. is set to report quarterly results before market open.

Next Week's Economic/Earning Report

Monday: Government data on industrial production and capacity utilization for September are due before the market opens.

After the opening bell, the National Association of Homebuilders is scheduled to release its housing market index for October.

Companies reporting quarterly financial results early Monday include Citigroup (C), while Apple (AAPL ) and IBM (IBM) are up after the closing bell.

Tuesday: A report on September housing starts and building permits comes out in the morning.

Economists expect 575,000 homes broke ground in the month, down from 598,000 in August. Building permits are expected to dip to 565,000 from 569,000, according to consensus estimates from Briefing.com.

In the morning, Bank of America (BAC), Coca-Cola (KO), Goldman Sachs (GS) and Johnson & Johnson (JNJ) are schedueld to release quarterly financial statements.

Yahoo's (YHOO) results come out after the market closes.

Wednesday: The Federal Reserve will release its Beige Book report on economic conditions across the central bank's 12 districts in the afternoon.

Results are due from Boeing, (BA) Morgan Stanley (MS) and Wells Fargo (WFC) before the open.

Thursday: Reports on initial jobless claims, leading economic indicators and regional manufacturing activity are all on the agenda.

In addition, AT&T (T), Caterpillar (CAT), McDonald's (MCD) and UPS (UPS) are scheduled to report results early Thursday.

Amazon (AMZN) and American Express (AXP) are up after the close.

Friday: There are no economic reports on the calendar, but Honeywell (HON), Schlumberger (SLB) and Verizon (VZ) are scheduled to report results.