Are You a Bull or a Bear? Vote in Our Poll
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) - Get Report
,
AIG
(AIG) - Get Report
and
FedEx
(FDX) - Get Report
all offered up bad news for shareholders.
Swiss banking titan
UBS
(UBS) - Get Report
was also the bearer of bad tidings, announcing it is starting to implement previously announced jobs cuts.
On the technology side,
Nvidia
(NVDA) - Get Report
gained 2.6% a day after its quarterly report, which was followed by a Stifel Nicolaus upgrade.
Priceline.com
(PCLN)
was even more impressive, adding 12% to $138.63 in the wake of its strong numbers.
Also performing fairly well were
Sprint
(S) - Get Report
,
Alcoa
(AA) - Get Report
and
Advanced Micro Devices
(AMD) - Get Report
, which were all up at least 8% for the week.
Meanwhile, the Street is beginning to suspect that
Bank of America
(BAC) - Get Report
might be paying too much for
Countrywide Financial
( CFC). Concerns about Countrywide's debt may be cause for an overhaul of the deal,
according to some analysts.
Next week,
Wal-Mart
(WMT) - Get Report
and
Hewlett-Packard
(HPQ) - Get Report
are slated to report earnings, and talk of a potential
Circuit City
(CC) - Get Report
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.
This article was written by a staff member of TheStreet.com.