This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

What a Week: Closing Kick

While economic bulls and bears were hashing it out this week, investors were busy snapping up stocks.

Indeed, the major averages rose to their highest levels in over three years, as oil prices declined and portfolio managers chased returns before the end of the year.

Few sectors were left behind. Although technology stocks came under pressure Thursday after Micron Technology (MU) and Red Hat (RHAT) reported disappointing results, the tech-laden Nasdaq rose 1.2% for the week to 2161.

Retail, cyclical and consumer products stocks also moved higher while health care issues gained ground despite continued controversy over Pfizer's (PFE) arthritis drug Celebrex and more bad news for AstraZeneca (AZN). Even oil and oil service stocks posted mild gains amid a 5% drop in the price of crude.

For the week, the Dow rose 1.7% to 10,827 while the S&P 500 added 1.3% to 1210.

While liquidity and momentum have been strong recently, the debate about the economic outlook continues to rage.

Earlier in the week, the Conference Board's index of leading economic indicators, a gauge of future activity, rose for the first time in six months.

But some economists pointed out that four of the index's subcomponents are still in negative territory, including the yield curve, which is considered one of the best predictors of future growth.

Over the prior five months, the LEI had fallen a cumulative 1.3%, the worst performance since mid-1995, suggesting an economic slowdown might be on the way.

Sherry Cooper, chief economist at BMO Nesbitt Burns, said the index is misleading, however, because 80% of the decline in recent months has been due to just two indicators -- vendor delivery days and the flattening of the yield curve -- both of which have moved from overextended positions.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs