ETF/No Load Fund Tracker StatSheet
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Friday, November 28, 2014
STOCKS EDGE OUT SIXTH STRAIGHT WEEK OF GAINS
[Chart courtesy of MarketWatch.com]
1. Moving the Markets
Stocks finished higher on the week, marking a sixth straight week of gains. Wall Street has been keeping a close watch on retail stocks as we head into the holiday season, while trying to deal with falling oil prices. For the week, the major indexes gained slightly.
Oil prices continue moving downward. A barrel of Texas Intermediate crude was trading for $67.17 Friday. Today, the Organization of the Petroleum Exporting Countries (OPEC) announced it decided to leave its production quota (supply of oil) unchanged. Oil is off more than 30% since this summer as slowing global growth has reduced demand and as domestic production has increased significantly in the past several years.
On the other hand, the drop in oil prices may actual signal The True State Of The Economy, as this article so eloquently explains.
Next week, investors will be anxiously awaiting an updated jobs report. According to Bloomberg, expectations are for 228,000 jobs to have been added in November. That would make the 10th consecutive month of more than 200,000 jobs created, which would be the longest streak since 1995. Also, we’ll be keeping an eye on major retailer stocks like Wal-mart (WMT) and Macy’s (M).
6 of our 10 ETFs in the Spotlight inched higher today; 5 of them made new highs as the YTD table below shows.