Following last week’s sharp sell-off, a two-session decline on Thursday and Friday left U.S. equity markets lower for a third consecutive week. All 10 sectors that make up the S&P 500 closed unchanged or lower, led by Materials (-4.4%), IT (-3.7%) and Energy (-2.8%).
Next week investors will turn to reports from ADP on payrolls, the ISM on non-manufacturing growth and U.S. government data on weekly jobless claims and the nationwide unemployment rate.
Has the market jumped the shark or is this just a phenomenal buying opportunity? The banks look horrible from a technical perspective and we should get some more input next week on financial regulation from Volker. Materials and commodities are losing the battle against a strong dollar and technology stocks led by Apple, Google and Microsoft are rolling over.
Enjoy the links.
What is getting hammered the most?
The latest from the Chinese real estate bubble-Reformed Broker
Stocks in focus for Monday.
Is economic blackmail next?
Financial regulation could pass in months.
Vanguard files to be a hedge fund.
Price war in online trading.
Where is solar going? Technically they look like disasters.
Default risk for financials increases.
America’s most overvalued cities.
China warns us.
Krauthammer on Obama-one year out.
Why cable companies bundle their service.
Chanos isn’t betting against China, just their real estate and anyone who supplies them.
The global debt bomb.
I’ve been losing a ton of sleep over this one.
California runs out of loot again.
The Davos dip.
Soda Pop
Golf loses Daly.
Eben Bin Laden blames us for global warming
The search for aliens should start on earth?
Lilian Ross on J.D. Salinger
John Edwards has a sex tape.
Thanks Dennis, will always love you for Easy Rider.
I always said good looks are an easy pass through life.
Let the book wars begin.
Which Apple 3G plan should you buy?