Are You a Bull or a Bear? Vote in Our Poll
05/09/08 - 07:25 PM EDT
This past week, the price of oil reached an all-time high and U.S. stocks finished to the downside. The Dow Jones Industrial Average was down 120.90 points, or 0.9%, to 12,745.88, and the S&P 500 lost 9.40 points, or 0.7%, at 1388.28. The Nasdaq gave back 5.72 points, or 0.2%, at 2445.52.
On Friday, Citigroup (C Quote - Cramer on C - Stock Picks), AIG (AIG Quote - Cramer on AIG - Stock Picks) and FedEx (FDX Quote - Cramer on FDX - Stock Picks) all offered up bad news for shareholders. Swiss banking titan UBS (UBS Quote - Cramer on UBS - Stock Picks) was also the bearer of bad tidings, announcing it is starting to implement previously announced jobs cuts. On the technology side, Nvidia (NVDA Quote - Cramer on NVDA - Stock Picks) gained 2.6% a day after its quarterly report, which was followed by a Stifel Nicolaus upgrade. Priceline.com (PCLN Quote - Cramer on PCLN - Stock Picks) was even more impressive, adding 12% to $138.63 in the wake of its strong numbers. Also performing fairly well were Sprint(S Quote - Cramer on S - Stock Picks), Alcoa (AA Quote - Cramer on AA - Stock Picks) and Advanced Micro Devices (AMD Quote - Cramer on AMD - Stock Picks), which were all up at least 8% for the week. Meanwhile, the Street is beginning to suspect that Bank of America (BAC Quote - Cramer on BAC - Stock Picks) might be paying too much for Countrywide Financial (CFC Quote - Cramer on CFC - Stock Picks). Concerns about Countrywide's debt may be cause for an overhaul of the deal, according to some analysts . Next week, Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks) and Hewlett-Packard (HPQ Quote - Cramer on HPQ - Stock Picks) are slated to report earnings, and talk of a potential Circuit City (CC Quote - Cramer on CC - Stock Picks) buyout has investors excited about the troubled electronics vendor. Where do you think the market's headed? Vote in our poll, and let your voice be heard.![]() |
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