The Week Ahead: A Veritable Roller Coaster
If I were to submit to a Rorschach test that had me looking at last week's charts for the major U.S. indices -- the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite -- my response would be "roller coaster." That's before this Friday's deadline for congressional budget sequestration.
Tracing the ride taken by the indices last week, stocks climbed into the middle of the week, only to drop late Wednesday following the release of the most recent Federal Reserve minutes from the latest Federal Open Market Committee meeting. That late-session drop continued through Thursday, but the market proceeded to rebound Friday. Despite the gyrations, the Dow and the S&P 500 were little changed, even though the Nasdaq dipped 1% for the week. I attribute that fall-off more to last week's decline in Apple (AAPL) shares....776 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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