In Case You Missed the Weekend
A resurgence in oil prices lifts most boats
Mo-mo is back:
- Stocks posted another gain on Friday, their sixth push higher in the past seven sessions. That’s not to say that as of the market’s close – or even right now – global hotspots such as the Middle East or Japan, or soverign debt issues in Europe were showing any immediate signs of abating. On the other hand, at least in terms of Japan, there were no signs that things were much worse than they had been a week earlier. The bullishness started with energy stocks, which have ridden a wave higher as crude oil prices returned this week to $105 a barrel and above — a level they hadn’t seen in a couple weeks. However, with oil then stalling and even giving back a few cents on Thursday and Friday, momentum was back in play, and sectors that missed out specifically because of oil’s runup were given a chance to catch up.
- On Monday, you’ll get February reports on personal income and personal spending, as well as the February numbers on pending home sale. Earnings reports slow to a virtual trickle — hardly one worth mentioning all week.
OUT THERE SOMEWHERE:
Article printed from InvestorPlace Media, http://investorplace.com/2011/03/in-case-you-missed-the-weekend-5/.
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