Are You a Bull or a Bear? Vote in Our Poll
By TSC Staff
05/16/08 07:46 PM EDT
This past week, the price of oil reached another all-time high and U.S. stocks finished in positive territory. The Dow Jones Industrial Average finished Friday down 5.86 points , or 0.1% for the day, to 12,986.80, and the S&P 500 gained 1.78 points, or 0.1%, at 1425.35. The Nasdaq gave back 4.88 points, or 0.2%, at 2528.85.
On Friday, housing starts and new building data were higher than expected, but some onlookers worried about increased inventories for the future.
Meanwhile, several banks suffered this past week as billionaire investor Warren Buffett sold his stake in Ameriprise Financial
(AMP:NYSE)
. Merrill Lynch also downgraded KeyCorp
(KEY:NYSE)
and Regions Financial
(RF:NYSE)
to sell.
On the technology side, Yahoo!
(YHOO:NYSE)
continued its battle with billionaire investor Carl Icahn over the Internet company's failure to negotiate a merger deal with Microsoft
(MSFT:NYSE)
.
Next week, earnings reports from the retail sector and a government report of the producer price index will offer a peek into the state of the economy. Target
(TGT:NYSE)
, Home Depot
(HD:NYSE)
, Staples
(SPLS:Nasdaq)
and AutoZone
(AZN:Nasdaq)
are among companies reporting quarterly results.
Where do you think the market's headed? Vote in our poll, and let your voice be heard.
