- Commentary -

November 30, 2009 (FinancialWire) (By Genevieve Hawkins) — Stock markets worldwide dropped following Dubai World’s announcement that they may default on $60 billion in debt, but markets could recover due to holiday spending numbers at places such as Target (NYSE: TGT).

Despite Friday’s large stock market drops the Nasdaq, Dow Jones Industrial Average and S&P 500 all ended last week close to 2009 highs. With the dollar possibly rising and shoppers out in force, markets may once again balance out good and bad news.

For the coming week investors will be watchful of data on the unfolding holiday shopping season—results for Black Friday showed a slight up tick in spending from last year. Friday’s all important employment report may sink the markets if unemployment numbers continue to rise. The position of the US dollar against other currencies could serve as a backdrop, and if the dollar rises expect the market to fall. The six month rally may be in jeopardy.

The market may test its 2009 highs again this week but it shouldn’t break through them by much. The best this year had to offer may already be behind Wall Street.

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

The FirstAlert(tm) Economics Calendar lists Chicago PMI for November (9:45 a.m.), Treasury auctions 3&6-month bills (1 p.m.).

The FirstAlert(tm) Events Calendar showcases ANR at Macquarie Global Metals & Mining Conference; APD, MOS at Citi Global Chemical Conference.

FirstAlert(tm) Website of the Day: http://www.darkroastedblend.com/2007/11/outrageous-signs-part-8.html

Quote of the Day: “As a rule, I am very careful to be shallow and conventional where depth and originality are wasted.” Lucy Maud Montgomery

Today is: Computer Security Day, Cyber Monday.

Happy Birthday: Andrea Doria, Jonathan Swift, Samuel Langhorn “Mark Twain” Clemens, Lucy Maud Montgomery, Sir Winston Churchill, Efrem Zimbalist Jr., Dick Clark, G. Gordon Liddy, Elisha Cuthbert, Nyjah Huston.

Today in History: In 1803, Spanish representatives transferred the Louisiana Terriroty to the French, who flipped it 20 days later to the Colonies. Lucille Ball and Desi Arnaz were married in Greenwich, Connecticut, in 1940. In 1954 in Sylacauga, Alabama, an 8.5 pound sulfide meteorite crashed through a roof and hit Elizabeth Hodges in her living room after bouncing off her radio, giving her a bad bruise, in the only unequivocally known case of a human being hit by a space rock. The skeleton of “Lucy,” a 3.18 million years old female hominid, of the genus Australopithecus, was discovered in the Afar Triangle of Ethiopia in 1974. Kohlberg Kravis Roberts & Co. bought RJR Nabisco for $25.07 billion in 1988.

[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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