US Stock Market Week in Review

Week Review March 29 – April 2, 2010

The markets today are closed in observation of Good Friday, so Stocklook is bringing you a weekly recap of the markets and economic news. The report includes March unemployment numbers, crude oil prices, US housing market update, earning surprises and market returns for the past week.

For related articles or penny stock websites click on the related links provided by Google on the top or right hand side

March Unemployment Numbers

The US economy added 160,000 jobs in March, nearly one third of these jobs were due to census jobs created which are only considered short term. The unemployment rate remains at 9.7% (http://www.bls.gov/news.release/empsit.nr0.htm).

Crude Oil Prices Close at 2010 Highs

Economic data from China helped push Crude prices higher this week as traders feel optimistic about world economic recovery and stronger demand for oil in the coming months. * On the New York Mercantile Exchange, May CLK0 crude rose $1.11, or 1.33 percent, to settle at $84.87 a barrel (http://www.reuters.com/article/idUSN0159428820100401?type=marketsNews).

US Housing Market

For the third consecutive week mortgage rates rose and now stand at 5.08% if this trend continues it could discourage borrowing.

January home prices increased 0.3% measured by Standard & Poor's/Case-Shiller home price index. The index shows mixed results as it includes November when first time home buyers flooded the market to receive the tax credit before it expired. It was then extended to the end of April. Housing analysts are concerned about foreclosures as a spike could push home prices lower (http://www.washingtonpost.com/wp-dyn/content/article/2010/03/30/AR2010033001280.html?hpid=topnews).

Market Returns Friday 3/26 close to Thursday 4/01 close

S&P 500 1,178.10 +11.51 + 0.99%

DOW 10,927.07 +76.71 + 0.71%

NASDAQ 2,402.58 +7.45 + 0.31%

Earnings Surprises

Boarders Group Inc. (BGP) Consensus EPS: 1.01 Reported EPS: 1.62 = 60.40% Surprise

Overstock.com (OSTK) Consensus EPS: 0.45 Reported EPS: 0.55 = 22.22% Surprise

Dollar General (DG) Consensus EPS: 0.43 Reported EPS: 0.51 = 18.60% Surprise

Micro Cap Winner

Hallwood Group (HWG) 2009 4^th Q EPS $4.24 vs. 2008 $-0.06

HWG’s stock price closed up 12.15 after earnings at 52.89 an increase of 29.82%

To receive email notifications of new blog posts enter your email address at the top right of this blog. No more than two emails per week and most weeks only one.