- Commentary -

November 9, 2009 (FinancialWire) (By Genevieve Hawkins) — Markets shrugged off the high unemployment rate and returned to their winning ways last week, and with financial results expected from Wal Mart (NYSE: WMT) investors will now turn their attention to consumer spending. Last week’s 3.2% climb on the Dow and S&P 500 and 3.3% rise on the Nasdaq came despite unsettling trends related to the health of the US consumer. With the holiday shopping season fast approaching investors are likely to turn their attention to retailers.

Financial results in the coming week will emerge from retailers including Wal Mart, Macy’s, JC Penney and Kohl’s. A more important predictor of market direction will likely be the Treasury auction, which will impact the fate of the US dollar and hence the markets. The Federal Reserve has run past its limit to purchase its own securities, which may lead to a drop off in demand. Provided China and other countries extend their lines of credit to the US, all should be well.

The market may extend its winning ways for a time, but any rally that emerges is likely to be on unsteady ground. 

[Go to http://www.financialwire.net/?s=genevieve+hawkins to see more commentaries by Geneveive Hawkins.]

FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ/AMEX 25 Most Actives and NYSE/NASDAQ/AMEX greatest Percentage Losers and Percentage Winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Of the Most Actives, last session’s trading showed 15 advancers versus 10 decliners. Volume leaders were led by Citigroup Inc. (NYSE: C) trading 47,380,000 shares closing at $4.06 (0.0% loss/gain), the PowerShares QQQ Trust Series 1 (NASDAQ: QQQQ) trading 41,329,034 shares closing at $42.6 (up 0.6%) and General Electric Co. (NYSE: GE) trading 35,162,900 shares closing at $15.33 (up 6.2%).

Of last session’s Greatest Percentage Losers, stocks taking the greatest monetary losses were led by Barclays PLC (NYSE: BCS) trading on volume of 27,300 shares (losing $6,554.4 billion), CVR Energy, Inc. (NYSE: CVI) trading on volume of 1,200,600 shares (losing $155.9 million) and Geokinetics Inc. (AMEX: GOK) trading on volume of 165,000 shares (losing $55.6 million).

Of last session’s Greatest Percentage Winners, stocks making the greatest monetary gains were led by Exlservice Holdings, Inc. (NASDAQ: EXLS) trading on volume of 80,854 shares (gaining $88.0 million), Sonic Solutions (NASDAQ: SNIC) trading on volume of 363,958 shares (gaining $30.7 million) and Axcelis Technologies Inc. (NASDAQ: ACLS) trading on volume of 466,660 shares (gaining $30.2 million). The complete chart for today’s FirstAlert(tm) Money Index Synopsis is posted at investrend.com (http://www.investrend.com/fa-index). Go to http://www.financialwire.net/?s=%22%27Money+Index%27+Synopsis for all the most recent FirstAlert(tm) “Money Index” Synopses.

The FirstAlert(tm) Economics Calendar lists Treasury auctions 3&6-month bills (11:30 a.m.), Treasury auctions 3-year notes (1 p.m.)

The FirstAlert(tm) Events Calendar showcases CPN at Platts California Power Market Forum; CSCO Collaboration Summit 2009; CXO, ERII at Boenning & Scattergood SMID Cap Investor Conference; HXL, NCIT at Stifel, Nicolaus & Company Aerospace/Defense/Airline Conference.

FirstAlert(tm) Website of the Day: http://www.snopes.com/food/prepare/breadtag.asp

Quote of the Day: “Mad, is he? Then I hope he will bite some of my other generals.” King George II

Today is: Independence Day in Cambodia, World Orphans Day.

Happy Birthday: Henry Wharton, Elijah P. Lovejoy, Ed Wynn, Hedy Lamarr, Spiro Agnew, Carl Sagan, Bob Gibson, Tom Fogerty, Tom Weiskopf, Lou Ferrigno, Robert Duncan McNeill, David Duval, Nick Lachey.

Today in History: The United States received rights to Pearl Harbor, Hawaii, in 1887. In 1906, Theodore Roosevelt became the first sitting President of the United States to make an official trip outside the country (to inspect progress on the Panama Canal). Robert McNamara was named in 1960 president of Ford Motor Co., the first non-Ford to serve in that post, quitting a month later to join the newly-elected John F. Kennedy administration. The U.S. Northeast was affected by an electrical blackout in 1965. Rolling Stone Magazine premiered in 1967.

[FirstAlert(tm) was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend.]

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