Weekly Market Review ~ Friday, 07/27/12
The major indexes were down 1% to start the week on Monday as the volatility that was absent for much of 2012 has begun to return to roil the markets. On Tuesday, the Dow fell over 100 points for a third consecutive session on more Eurozone fears. The damage would have been worse if it had not been for a report that the Fed is closer to taking action to stimulate the economy. Stocks finished mixed on Wednesday as positive earnings reports from Boeing and Caterpillar were offset by an earnings miss by Apple. On Thursday. word that the European Central Bank might start a bond-buying program sparked a rally in the US markets that lead to a 200+ point gain for the Dow. The early week jitters were completely forgotten on Friday as the Dow surged to a nearly 200 point gain on renewed optimism for Euro Central Bank action, as the Dow broke the 13000 barrier for the first time since May.
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