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It was a roller coaster of a week in the stock market with trend lines fluctuating up and down without ever establishing a consistent direction. The news that posted this week caused the Dow Jones Industrials, Nasdaq and S&P 500 to oscillate between conflicting positions and in the end to little surprise, the data closed out the week mixed. Monday brought The National Association of Home Builders report. It stated that the monthly index of builders sentiment rose from 3 to 16 points in October. This was a nice move for builders sentiment, but not near 50 which is the value that represents the beginning tier of the positive side of sentiment index values. This news did however help stock index values find green which held through end of day close on Monday. Tuesday, news broke that for the first time in three years, the Peoples Bank of China raised its benchmark deposit and lending rates in an attempt to slow it's economy down. Specifically, China raised it's key lending rate to 2.50% from 2.25%. Stock action during the U.S. session fell off significantly once word of this development spread Tuesday. Overall on Wednesday, stocks rose on strong earnings reports from airlines and manufacturers. Consumer spending remained steady and sales of new or used vehicles was on the rise. The real estate sector was still weak. Overall, it was a positive session in the U.S. market for Wednesday. The market responded well on Thursday to company earnings data as analysis reveals that the range and scope of the positive reporting implies that companies continue to do well even during this time of slow economic recovery. The governments weekly jobless claims report also showed a drop in the number of Americans filing for first time unemployment insurance. Overall, it was an up in the green day for the market on Thursday. Friday, brought about mixed reactions however. Friday saw the Dow end it's two day winning streak. Overall, data to end the week was mixed with no major news pushing direction. The Dow Jones Industrial Average closed out October 22nd, 2010 in the red by .13% at 11,132.56. The S&P 500 was in the green by .24% and finished the day at 1,183.08 and the Nasdaq closed out today in the green as well up .80% at 2,479.39. Author: Frank Matto
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