The Weekly Wrap: Saturday, January 29, 2006
28 January 2006Earnings are on a roll. To date almost 50% of S&P 500 companies have reported. The markets regained most of the previous weeks losses. However I am not convinced that this rally has legs. Many of the previous quarters leaders have fallen behind, but in earnings reports I do see many semiconductor stocks with stellar earnings. Maybe there is going to be some new leadership. I am hoping that the markets go into a multi week pullback to set the stage for a rally to start next quarter. The FED meets this coming Tuesday and will probably again raise rates another 1/4 point. Markets will probably be on hold until after the news is out one way or another on the FED rate. One final note, the Russell 2000 jumped way out in front this week on its yearly gain by going from +4.7% to a +8.80% yearly change.
| Markets at a Glance | ||||
|---|---|---|---|---|
| Index | Started Week | Ended Week | Weekly Change | Yearly Change |
| DJIA | 10,667.39 | 10,907.21 | +239.82 (+2.20%) | +1.80% |
| Nasdaq | 2247.70 | 2304.23 | +56.53 (+2.50%) | +4.50% |
| S&P 500 | 1261.49 | 1283.72 | +22.23 (+1.80%) | +2.80% |
| Russell 2000 | 704.60 | 732.22 | +27.62 (3.90%) | +8.80% |
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