Video: Reuters Business Recap for the Week of October 22, 2007

Posted by Sun on October 27, 2007
Advertisements

Stocks finished the trading week with a triple-digit gain of the Dow on Friday as strong profits report from software giant Microsoft lifted technology stocks and bullish forecast from the nation’s largest mortgage provider Countrywide boosted the financial sector. What happened in the middle of the week was more interesting. For each day from Tuesday to Thursday, the Dow at one point appeared to head to triple-digit decline, but the index rallied back to finish each of the three sessions virtually flat.

For the week, the S&P 500 rose 1.4% to 1,535.28, the Dow climbed 1% to 13,806.7, and the tech-heavy NASDAQ added 1.9% to 2,804.19. The rally of gold continued this week as the US dollar kept weakening against Euro. Spot gold price gained nearly$20 to close at $783.50 an ounce on Friday. Crude oil reached another record Friday as geopolitical tension in the Middle East increased. Crude oil for December delivery rose $3.26 this week to $91.86 a barrel on NYMEX on Friday.

Next week, investors’ attention will be on the FOMC meeting on Tuesday and the Fed’s interest rate decision on Wednesday. Speculations of another rate cut are growing in the recent weeks after big banks wrote down billions of dollars of assets. But will we get it this time? My guess is no.

[youtube EnPRf3YiVXs]

If you found information on this Diary helpful, please consider subscribing to the full RSS feed (What's RSS feed?), or enter your email below to receive free daily update.

Your address is secure and will only be used to deliver the contents of this Diary. You can unsubscribe at any time.

Related Articles You Don't Want To Miss
Categories : Video

Trackbacks & Pingbacks
2 Comments
October 29, 2007

that was indeed a good information sir but I am a beginner and trying to understand the market.I will really appreciate if you could provide with pie charts,figure statistics etc or any means of diagram representation which will be very easy for many of us to gather the idea of the market.

Posted by Ronald Husting

Sorry, the comment form is closed at this time.

invisible tracker