The Weekly Wrap: Saturday, January 21, 2006
21 January 2006There were a few problems in paradise this week. Two things got the market reversing this week, Oil and Earnings. Oil prices shot up this week to close at $68.48 a barrel after implied threats from Iran that oil supplies would be disrupted if anyone tried to interfere with its nuclear plans. With earnings it was Intel, Yahoo, Ebay, Motorola, Citigroup, GE and Apple that either fell short of expectations, warned for the upcoming quarter or both. Result - Markets fell hard on Friday.
Note: Apple and Ebay had great earnings.
| Markets at a Glance | ||||
|---|---|---|---|---|
| Index | Started Week | Ended Week | Weekly Change | Yearly Change |
| DJIA | 10,959.87 | 10,667.39 | -292.48 (-2.70%) | -0.50% |
| Nasdaq | 2317.04 | 2247.70 | -69.34 (-3.00%) | +1.90% |
| S&P 500 | 1287.61 | 1261.49 | -26.12 (-2.00%) | +1.10% |
| Russell 2000 | 708.44 | 704.60 | -3.84 (-0.50%) | +4.70% |
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