Did Dow Spark Another Market Surge This Week?
May 26th, 2009
Up only slightly this week, the markets did see positive gains for the week. But that can hardly be labeled a definite surge or comeback. This week saw substantial seesaws on Wall Street, with the Dow closing up nearly 3 percent one day and other days down the same percentage.
Results from Sears, Gap and Aeropostale helped finish trading on Friday to bring the Dow nearly even. This week's economic calendar will be a much better indicator of whether the markets are poised or in a position to stage another rally. Key reports are scheduled to be released that will focus on home sales and big-ticket manufactured goods.
Banks reduced borrowing last week and investment banks reportedly didn't borrow at all ,which has been the first time this has happened since September of last year.
Markets were closed yesterday for Memorial Day, and the short week will offer possibly far more turbulent trading than last week. Many analysts are not sure where the markets will go. We'll have a good indication of whether the market will have a positive or negative week by tomorrow most likely.
