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Dow 12,391 S&P500 1,343 Nasdaq 2,833 Gold 1,388
Markets were up across the board again this week and the S&P 500 has officially doubled since the economic crisis intra-day low of 666. Wow.
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Now, for the 15 reasons markets moved this week:
- President Obama released the 2012 budget. Assuming the world doesn’t fulfill Mayan prophesy and end in 2012, we’ll have a ton of deficits to deal with next year. At least the deficits aren’t slowing mergers and acquisitions rumors from heating up >>
- Walmart got downgraded, but Netflix and Starbucks made moves. JPMorgan (NYSE:JPM) says Walmart’s (NYSE:WMT) is losing their grip on consumers hit by the economic crisis, Netflix (NASDAQ:NFLX) and Qualcomm (NASDAQ:QCOM) are teaming up to put streaming media on Android (NASDAQ:GOOG), and a Wall Street research note has Green Mountain Coffee Roasters (NASDAQ:GMCR) getting into bed with Starbucks (NASDAQ:SBUX). Don’t Miss: Have No Fear: The New Media Bubble is Just Getting Started >>
- Oil (NYSE:USO) continued to lose emotional demand after Mubarak stepped down. Looks like traders need another issue in the Middle East to keep prices rocketing in the near term. Here’s Why Inflation and Supply Worries Are Driving Commodities >>
- Retail Sales disappointed after lots of recent juice. Wall Street doesn’t like to cool off, but the Commerce Department said retail sales rose 0.3% versus hopes for 0.5%. Although that’s still a superficial improvement, This Chart Shows Why Consumers are Depressed >>
- NYSE Euronext (NYSE:NYX) and and Deutsche Boerse AG are attempting to get hitched. The two exchange operators are aiming to create the largest exchange in the world. Don’t Miss: Will This Deal Renew Merger Lust for Exchanges >>
- Gold (NYSE:GLD) caught a whiff of global inflation. China (NYSE:FXI) and the UK said inflation continues to hit their economies. Here’s Why Inflation and Supply Worries Are Driving Commodities >>
- Earnings keep coming in stronger. Dell (NASDAQ:DELL) got Wall Street giddy with prospective increases in business spending, bellwether teen retailer Abercrombie & Fitch Co. (NYSE:ANF) crushed earnings, Comcast (NASDAQ:CMCSA) is selling a lot more bundles, and Deere & Co. (NYSE:DE) is rocking on ag strength.
- Merger Mania! Family Dollar Stores (NYSE:FDO) caught a go-private bid, and Genzyme Corp. (NASDAQ:GENZ) finally closed the deal to be bought by French drug maker Sanofi-Aventis (NYSE:SNY). Don’t Miss: Sector Spotlight: Discount Retailers Become Acquisition Targets >>
- Gold (NYSE:GLD) stayed up for more than 24 hours. The US Producer Price Index indicates input costs are rising with inflation, and Gold bugs love that word.Accumulate Gold but Be Cautious on Silver >>
- Macro Economic data was solid. The Philly Fed Index was on fire, CPI was fine, and initial jobless claims were as expected. Here’s How Inflation Breaks Down for Each Sector in Today’s CPI Data >>
- Stocks rocked. Utilities (NYSE:XLU) had a strong day and tech favorite Nvidia (NASDAQ:NVDA) popped 8.7% after raising revenue guidance. Don’t Miss: Utility ETFs: The Top 5 Exchange Traded Funds for Your Utility Investing List >>
- Oil (NYSE:USO) popped on news Iran intends to send vessels to the Suez Canal.Protests in Bahrain also gave oil traders something to bid about. Must See: Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List >>
- Deals continue to warm up the phone lines of investment bankers. Recent IPO Demand Media ended the day up 5.4% while recent IPO Nielson Holdings ended the day up 2.52%. LinkedIn and Pandora are coming soon. What’s on the horizon? Check out: A Sneak Peek at the 5 Leaders of the Coming Social IPO Bubble>>
- Technology is driving the economic recovery. Obama sat at dinner last night beside Mark Zuckerberg of Facebook and Steve Jobs of Apple (NASDAQ:AAPL), while across the table from Eric Schmidt of Google (NASDAQ:GOOG) and Larry Ellison of Oracle (NASDAQ:ORCL). Does it get any more powerful than that roundtable discussion? Don’t Miss: Innovation Nation: Obama and Tech Bellwethers Must Strike NOW>>
- Precious metals rose as Silver (NYSE:SLV) hit a 52-week high on a breakout. With a fear index increasing in the Middle East once again, there was a flight to safety on Wall Street. Must See: Silver in Breakout Mode but Silver Shares Lag>>