| Market Summary |
Happy birthday, so to speak, to Ben Bernanke. This week marked the end of his first year as Chairman of the Federal Reserve, but don't expect any cakes or candles any time soon. He's got some tough decisions ahead, especially considering the surprising strength of the US economy (housing bubble, anyone?). Investors haven't been quite able to decide just how interest rates will behave in the future, but have been optimistic enough to push the Dow Jones, S&P 500 and Nasdaq up into positive territory so far in 2007. Friday's markets, however, weren't so hot. A jump in oil prices, as well as some interest rate hints from the Fed, managed to lop of any of the week's gains, dropping Nasdaq by 1.16%. Shares of Mastercard (MA: Charts, News, Offers) were "denied" by investors, who dropped the credit card company nearly 10% after it reported that 2007 margins could be weaker than usual. Auto companies GM (GM: Charts, News, Offers) and Ford (F: Charts, News, Offers) both got a boost from an upgrade by Deutsche Bank, and shares DaimlerChrysler (DCX: Charts, News, Offers) sped up over 2% after an upgrade from Citigroup.
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| Market News |
Alcatel-Lucent SA said Friday it plans to cut another 3,500 jobs after it swung to a loss in the fourth quarter -- the first earnings report from the recently combined telecom equipment maker. The Paris-based company cited tougher-than-expected market conditions -- particularly in North America -- and uncertainty among customers in the wake of the combination of the French and U.S. equipment makers. (Source: Yahoo! Finance) Full Story
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Earlier this week, I stood in the rain in Miami for six straight hours to watch a football game, a rock concert, a multimedia show on football history and a celebrity interview. Although at times I questioned my sanity, those moments were fleeting because, like most of the 73,000 other people in the stands of Super Bowl XLI, I was having a blast. (Source: The Street) Full Story
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Spring is less than six weeks away, but love is in the air again in the nation's oil and gas industry.
Fueled by last year's record highs for crude oil, low interest rates and a sea of private equity money, 2006 brought 485 mergers in the energy patch, the most in 16 years - deals worth a cool $82 billion, the fourth highest over that span. (Source: CNN Money) Full Story
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| Featured Article from the InvestorGuide University |
Technical Analysis
Unlike fundamental analysis, technical analysis ignores the company underlying the stock and instead tries to predict price changes by studying the market itself. We examine technical analysis concepts like moving averages, support and resistance, advance/decline lines, relative strength, momentum, and volume.
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| Market Analysis |
When the full scope of Enron Corp.'s duplicity began unfolding, fingers pointed at an array of apparent accomplices.
Accountants who concocted hiding places for losses. Investment bankers who financed sham deals. Lawyers who approved all of it. Without such complicity, the primary schemers at Enron would have been stopped in their tracks. (Source: Bloomberg) Full Story
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As investors swallowed negative news from two of the biggest players in the subprime mortgage market on Feb. 8, the "housing bottom" question took a backseat to a new debate: Who will get crushed in the subprime shakeout, and who will emerge unscathed? (Source: BusinessWeek) Full Story
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"Would you accept the charges from Milton?" the operator would ask. I'd eagerly agree, knowing that the caller was my hero, the great economist Milton Friedman, who died last November. He always called collect. He was my only source who ever called collect. And the humor didn't escape him. One time, after the operator's Brooklynese introduction, he intoned in his trademark monotone, "I was most amused at the operator calling me Milton." (Source: Fortune) Full Story
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| Market Overview |
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| DJIA |
12,580.83 |
-56.80 |
| S&P |
1,438.06 |
-10.25 |
| NASDAQ |
2,459.82 |
-28.85 |
| 10Yr |
4.784% |
+0.054 |
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| On This Date |
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February 9, 2000: Computer hacker attacks effectively shut down Amazon.com, eBay.com, and Buy.com.
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| Notable Quotable |
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Since the Industrial Revolution began, going downstream - investing in businesses that will benefit from new technology rather than investing in the technology companies themselves - has often been the smarter strategy. - Ralph Wanger
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| Previous Newsletters |
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| February 8, 2007 |
| February 7, 2007 |
| February 6, 2007 |
| February 5, 2007 |
| February 2, 2007 |
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