- Commentary -

November 16, 2009 (FinancialWire) (By Genevieve Hawkins) — Stocks jumped to new 2009 highs last week as investor enthusiasm overshadowed modest forecasts from the likes of retail behemoth Walmart (NYSE: WMT).

The weak dollar through last Friday led the Dow up 2.5%, while the S&P 500 rose 2.3% and the Nasdaq gained 2.6%. If the dollar remains weak U.S. stock indices may continue to rise regardless what the news is. If the dollar strengthens it will be difficult for the market to keep up with what appear to be inflation driven gains.

Inflation data may affect the dollar’s direction in the coming week, and both the Consumer and Producer Price Indexes are expected to show slight gains on Wednesday and Thursday. Investors may watch the October retail sales reading and third quarter results from Home Depot and Lowes for indications about the health of the US consumer.

The S&P 500 is poised to hit 1,100 for the first time this year, and it doesn’t appear that anything will stop it from doing so this time. A better question may be whether inflation fueled gains are a sign of a prospering market.

[Go to http://www.financialwire.net/?s=genevieve+hawkins to see more commentaries by Genevieve 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 12 advancers versus 13 decliners. Volume leaders were led by Citigroup Inc. (NYSE: C) trading 37,219,100 shares closing at $4.05 (down 0.2%), the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) trading 35,309,200 shares closing at $44.01 (up 0.8%) and the SPDR Trust ETF (NYSE: SPY) trading 28,248,455 shares closing at $109.62 (up 0.5%).

Of last session’s Greatest Percentage Losers, stocks taking the greatest monetary losses were led by Mitsubishi UFJ Financial Group Inc. (NYSE: MTU) trading on volume of 2,473,900 shares (losing $5.09 billion), Semiconductor Manufacturing International Corp. (NYSE: SMI) trading on volume of 89,500 shares (losing $120.7 million) and ESCO Technologies Inc. (NYSE: ESE) trading on volume of 535,500 shares (losing $104.8 million).

Of last session’s Greatest Percentage Winners, stocks making the greatest monetary gains were led by Netlist Inc. (NASDAQ: NLST) trading on volume of 2,223,266 shares (gaining $46.9 million), YRC Worldwide Inc. (NASDAQ: YRCW) trading on volume of 1,760,709 shares (gaining $13.4 million) and Wuhan General Group China Inc. (NASDAQ: WUHN) trading on volume of 54,316 shares (gaining $11.8 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 Retail Sales for October (8:30 a.m.), Empire State Manufacturing Index for Nov. (8:30 a.m.), Business Inventories for September (10 a.m.), Fed Chairman Bernanke speaks to NY Economics Club (12 p.m.), Treasury auctions 3&6-month bills (1 p.m.).

The FirstAlert(tm) Events Calendar showcases ATLS, COG, CXG, PETD at Pritchard Capital Partners Appalachia Energy Forum; DOV to Host Investor Meeting; DV Education Day; DV Education Day; MGAM, WGA at Deutsche Bank Securities G2E Gaming Investment Forum; NJ at Deutsche Bank Securities Japan Conference; PARL, WPCS, BSQR, XPO at First Midwest Securities Small Cap Ideas Conference; RAI Investor Day; SI at Nomura German Swiss Conference.

FirstAlert(tm) Website of the Day: http://www.deephawaii.com/hawaiianhistory.htm

Quote of the Day: “Travel, instead of broadening the mind, often merely lengthens the conversation.” Elizabeth Drew

Today is: International Day for Tolerance, Icelandic Language Day.

Happy Birthday: Tiberius, David Kalakaua, Burgess Meredith, Marg Helgenberger, Diana Krall, Maggie Gyllenhaal, Oksana Baiul.

Today in History: Francisco Pizarro and his men captured Inca Emperor Atahualpa in 1532. Missouri trader William Becknell arrived in Sante Fe, New Mexico, in 1821 over a route that became known as the Santa Fe Trail. First transmission of electrical power between two cities was sent from Niagara Falls to industries in Buffalo, New York, in 1896. John Ambrose Fleming invented the vacuum tube in 1904. Indian Territory and Oklahoma Territory become Oklahoma and were admitted as the 46th U.S. state in 1907. The Federal Reserve Bank of the United States officially opened for business in 1914. Venera program: The Soviet Union launched the Venera 3 space probe toward Venus, the first spacecraft to reach the surface of another planet, in 1965. NASA launched Skylab 4 with a crew of three astronauts from Cape Canaveral, Florida, for an 84-day mission in 1973. President Richard Nixon signed the Trans-Alaska Pipeline Authorization Act into law in 1973, authorizing the construction of the Alaska Pipeline. Close Encounters of the Third Kind opened in theaters in 1977. The first Harry Potter film, Harry Potter and the Philosopher’s Stone, was released in 2001.

[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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