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Dow 12,130 S&P500 1,319 Nasdaq 2,781 Gold 1,408
Unless you’re living in a cave, you’re well aware unrest in Libya and the Middle East took center stage this week. Considering how much Oil (NYSE:USO) popped and the geopolitical instability, markets faired quite well with only a minimal slide.
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Now, for the 13 reasons markets moved this week:
Monday (US Markets Closed for President’s Day)
- Oil and Gold are in demand. As riots start to spiral out of control in Libya, investors are snapping up oil (NYSE:USO) and gold (NYSE:GLD). Muammar Gaddafi has warned of civil war, protesters may have taken control of Libya’s second-largest city Benghazi, and the capital Tripoli is set to become a battle ground.
- Libya is on the brink of civil war. The Middle East continues what could become a historical transition, and Libya led the way today. Don’t Miss: Gold is Back in Play as Safe Haven Over Stocks >>
- Housing data was awful. No doubt about it: Case-Shiller data shows housing is double dipping and it’s giving some investors the jitters. Check Out: Macro Economic Mashup: Consumer Sentiment Hits Another High while Case-Shiller Home Price Index Double Dips >>
- Oil (NYSEArca:USO) jumped over 8% in a mini shock. Iranian vessels cruising the Suez Canal and chaos in the Middle East can only inflate fears over oil supplies. Must See: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List >>
- Libya’s chaos helped push Oil (NYSE:USO) over $100 per barrel. The next step is ugly gas prices hitting headlines in the US. Don’t Miss: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List >>
- Hewlett-Packard (NYSE:HPQ) sent Silicon Valley into a tailspin. A weaker than expected outlook for PCs brought HPQ down almost 10% and spread like a virus over to Intel (NASDAQ:INTC). On another note, Wall St. Cheat Sheet analyst Zackary Barron asks Whether it’s Worth General Electric being a Big Bad Conglomerate? >>
- Oil (NYSE:USO) jumped over 3.5% after popping 8% yesterday. And Gold (NYSE:GLD) is following Oil into portfolios on the geopolitical risk trade. Check Out:Gold is Back in Play as Safe Haven Over Stocks >>
- The “macro” top-down funds were working the media to fret over higher Oil (NYSE:USO) prices. Although they may not wrong, Oil did take a tumble 1.6% today as hot money chasers got their faces burned off. Now Check Out: 5 Stocks Hedge Funds Are Buying Like Crazy >>
- Weekly Unemployment Claims dropped to their lowest level since 2008. What will the macro guys say if increasing employment cancels out higher Oil prices? Here’sThe Cool Charts Showing Our Journey Back to 2008 >>
- Gold (NYSE:GLD) and Silver (NYSE:SLV) ETFs fell apart at the end of the day. As with Oil, looks like the high frequency traders had fun with the newbie human day traders today. Don’t Miss: Gold is Back in Play as Safe Haven Over Stocks >>
- Traders ignored all the macro news. Libya continued to spiral, US GDP was revised down to 2.8% from 3.2%, and Oil (NYSE:USO) headed back toward $99 a barrel.Now Check Out: 4 Ways to Loosen the Grip of Fear while Investing or Trading >>
- Dow stocks such as Boeing (NYSE:BA) and Intel (NASDAQ:INTC) had monster days. Also, Salesforce.com (NYSE:CRM) continued their earnings momentum, CBS (NYSE:CBS) found $225 million in their back pocket, and Autodesk (NASDAQ:ADSK) had awesome earnings as car sales were higher. Don’t Miss: Wall St. Cheat Sheet’s Dow 30 Quarterly Earnings Recap >>