Money Watch: Weekly Wrap

Unrest in Egypt did little to deter the bulls. Stocks closed higher, as investors focused on a strengthening US economy and improving corporate sales and profits.

• DJIA: 12,273, up 1.5% on week, up 6% YTD (up 3.8% over past 2 weeks)
• S&P 500: 1329, up 1.4% on week, up 5.7% YTD (up 4.1% over the past two weeks)
• NASDAQ: 2809, up 1.4% on week, up 5.9% YTD (just under a four-year high)
• March Crude Oil: $85.58, down 3.8% on week (lowest settle since Nov, 2010)
• April Gold: $1360.40, up 0.8% (best week since week ending December 31, 2010)

FACTOIDS OF THE WEEK:

• The US Treasury released its recommendations for changes to Fannie and Freddie on Friday. (Here's a primer on mortgage reform) A couple of stats to note from the report:
  
  • 92% of all new mortgage loans are backed by the US government
  • Half of all renters spend more than a third of their income on housing, and a quarter spend more than half
• Valentine's Day: Since 1928, the S&P 500 has dropped nearly 2/3 of the time, compared to 52% of all days. The Dow has dropped slightly more than half of Valentine's Days.
• The protests in Egypt were partially fueled by rising food inflation, which is on the move. Corn is up 95% in the past year, wheat has surged 84% and soybeans are up 57%
• No so fast JR: a court overturned actor Larry Hagman's $11.6M award he won against Citigroup for the mishandling of his brokerage account. The case will now go to the appellate court

Mon 2/14:
Marriot
President Obama sends his 2012 budget request to Congress.

China reports on January consumer and producer prices.

Tues 2/15:
Dell
8:30 Retail Sales

8:30 Empire State Manufacturing

8:30 Import and Export Prices

10:00 Business Inventories

10:00 Housing Market Index

Weds 2/16:
CBS, Comcast,Genzyme
Treasury Secretary Timothy Geithner testifies before House Budget Committee

8:30 Housing Starts

8:30 Producer Price Index

9:15 Industrial Production

2:00 FOMC Minutes

Thurs 2/17:
Duke Energy, PG&E
8:30 Consumer Price Index

8:30 Weekly Claims

10:00 Leading Indicators

Senate Banking Committee hears testimony from Fed Chair Ben Bernanke, the FDIC's Sheila Bair, SEC Chair Mary Schapiro on implementing Dodd-Frank reform.

Fri 2/18:
Campbell Soup
G-20 meeting starts: the world's economic leaders are expected to discuss a new system to oversee international capital flows, the euro-zone debt crisis, currency policy and financial regulation

Jill Schlesinger

Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.

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