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Friday’s Market Recap (06/05/09)

Bullish Bankers (June 5th, 2009) Writes:

The markets were off today as the Dow Jones Industrial Average was the only major index to be in the black, up 0.15% to a level of 8,763.13.  The NASDAQ was down 0.03% closing at 1849.42 while the S&P 500 was down 0.25% ending at 940.09.  The 10-year once again saw price down ending with a yield of 3.83%.  A dollar gained strength today resulting with gold falling, settling at $962.60, and weaker demand saw crude prices fall to $68.44 a barrel. 

General Motors announced preliminary plans to sell its Saturn unit to Penske Automotive Group [PAG: 14.65, +0.05 (+0.34%)] which would put Penske in charge of Saturn’s parts, distribution, service, brands, and trademarks.  Mr. Roger Penske did not say how much the deal would be worth, but he said that the deal would allow for Saturn to retain 13,000 jobs in the corporation and the 350 dealerships.  The sale

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Thursday’s Market Recap (05/14/09)

Bullish Bankers (May 14th, 2009) Writes:

The market was up today on strong investor sentiment, as the S&P was closed up 1.04%.  The Dow was up 0.56% to close at 8331.32, while the NASDAQ followed suit up 1.50% to close at 1689.21.  Gold and crude both had up days as the two futures settled at $928.40 and $58.62 respectively.  The 10-year saw prices rise, as the yield fell to 3.092%.

Wal-Mart [WMT: 49.10, -0.93 (-1.86%)] reported earnings of $3.02 billion, or $0.77 per share, increasing earnings from $0.76 per share from the same quarter the previous year.  Revenue fell from $94.9 billion the year before to $94.2 billion, missing the street’s estimate of $95.1 billion, as a strong dollar hurt overseas sales.  Wal-Mart has fared well in the economic downturn, as many price-conscious consumers are shifting to Wal-Mart.  Wal-Mart has seen increased consumer spending at its stores from family’s whose income is over $50,000.  CEO Michael Duke is

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