Saturday, April 14, 2007
Merk Takes Us Higher
The markets saw more gains Friday with the SPX up 5.05 points to 1,452.85. We are still in the green.
We also got filled on our put side side part of the play for 45c.
The economy remained in focus Friday, but earnings news was also a big part of the session. A solid earnings report from General Electric and upward guidance from Merck and McDonald’s benefited the Dow.
The producer price index report (PPI) showed an increase of 1.0 percent in March; higher than estimates for a gain of 0.7 percent. However, the core rate was flat, 2-tenths below estimates. Though the Fed focuses in on the core rate, it will be hard for the Fed to ignore continually high energy prices. Now the focus will turn to Tuesday’s consumer price index (CPI), which is actually the more important report as far as the Fed is concerned.
Next week will be interesting.
Until next time.
We also got filled on our put side side part of the play for 45c.
The economy remained in focus Friday, but earnings news was also a big part of the session. A solid earnings report from General Electric and upward guidance from Merck and McDonald’s benefited the Dow.
The producer price index report (PPI) showed an increase of 1.0 percent in March; higher than estimates for a gain of 0.7 percent. However, the core rate was flat, 2-tenths below estimates. Though the Fed focuses in on the core rate, it will be hard for the Fed to ignore continually high energy prices. Now the focus will turn to Tuesday’s consumer price index (CPI), which is actually the more important report as far as the Fed is concerned.
Next week will be interesting.
Until next time.
# posted by Paul @ 2:06 AM 
