The market closed on Friday with all the major market indexes trending in the
green. The Dow gained 75.91 points or 0.66% to 11,509.09. The Nasdaq increased
15.24 points or 0.58% to 2,622.31. The S&P 500 rose 6.90 points or 0.57% to
1,216.01. The positive push from the last session of the week boosted the
overall performance of the market up, marking a 5 day record for gains for the
first time since June. The weekly tally showed the Dow was up 4.7 %, The Nasdaq
gained 6.3% and the S&P 500 had increased 5.4%. Many question whether the market
will continue to rise or fall back as the new week reveals a mix of economic and
corporate reports scheduled for release. On the agenda for next week the
National Association of Home Builders Housing Market Index is due out on Monday.
The Commerce Department will report on Housing starts and building permits on
Tuesday. The Federal Reserve will begin a two day interest rate policy setting
meeting with a decision expected to be released on Wednesday. Existing home
sales are due out on Wed from the National Association of Realtors as well as
the Mortgage Bankers Association will release its index of mortgage applications
for the week ended September 17th. The weekly crude oil inventories is due out
on Wednesday as well. On Thursday investors will look for the Labor Department
to release the Initial Jobless Claims report and the Federal Housing Finance
Agency will release its July home Price index. The Conference Board will report
on the leading economic indicators for August. On Friday there are no major
economic events scheduled at this time. Corporate earnings reports of interest
this week include Oracle on Tuesday, Bed Bath & Beyond and General Mills on
Wednesday and Fed Ex and Nike on Thursday. All eyes will continue to follow the
developing progress in Europe as the debt crisis saga continues with the final
draft of a reform package agreed upon at a meeting of EU finance ministers on
Friday. Author: Pamela Frost
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