Weekly Market Review ~ Friday, 10/21/11
Stocks fell heavily on Monday on doubts that progress on the European debt crisis was progressing rapidly enough, as the Dow moved back into negative territory for the year after briefly breaking to the positive the week before. The markets snapped back on Tuesday, regaining much of Monday’s losses in a very volatile day of trading. On Wednesday, a disappointing earnings report by Apple coupled with a bleak economic outlook from the Fed’s “beige book” sank stocks. The major indexes finished mixed on Thursday as conflicting economic reports as well as uncertainty over the European debt plan failed to propel stocks in any particular direction. On Friday, continued strong third quarter earnings reports sent stocks 2%+ higher again, as the major indexes finished the week with a fourth consecutive weekly win. [table id=33 /]