Wall St. >>> All three major market indexes rallied to fresh annual highs

BULLS FAIL TO OVERCOME BEARS @HILL 11K

An easing of worries regarding Greece’s fiscal problems helped US stock prices rise on Friday with all three main indices finishing the week higher for the sixth consecutive week. On the heels of Thursday's well-received retail sales reports, another dose of healthy economic data motivated the bulls today. The Commerce Department reported that U.S. wholesalers enjoyed an eleventh consecutive monthly increase in sales during February, while inventories rose 0.6%. Also helping to boost sentiment was an upbeat outlook from Chevron, which announced that higher commodity prices will translate to a sequential improvement in first-quarter earnings. The oil major's rosy forecast sparked a fresh wave of buying pressure for not only CVX, but fellow Dow component Exxon Mobil, as well.

The tech sector also attracted enthusiastic traders, thanks to continued takeover speculation for smartphone also-ran Palm. Thanks to these positive developments, investors shrugged off a Fitch Ratings downgrade for struggling Greece -- particularly after reports suggested an aid package for the country could be imminent. By the time the closing bell sounded, stocks were firmly planted in positive territory.

An eleventh-hour buying boost propelled the Dow Jones Industrial Average (DJIA – 10,997.35) to a fresh 52-week peak of 11,000.98, marking its highest intraday peak since Sept. 29, 2008 -- and its best daily close since Sept. 26, 2008. However, the Dow finished just a hair's breadth below this key millennium marker, ending on a gain of 70.28 points, or 0.64%, as all but six of its 30 components closed higher. Alcoa paced the decliners, while Chevron led the 24 advancing blue chips into the black.

For the week, the Dow gained 0.6%.

The S&P 500 Index (SPX – 1,194.37) joined the Dow in annual-high territory, peaking at 1,194.66 on an intraday basis. The broad-market barometer ended the session up 7.9 points, or 0.7%. Not to be outdone, the Nasdaq Composite (COMP – 2,454.05) barreled to a new high of 2,454.12, edging above the 2,450 level for the first time since Aug. 18, 2008. For the day, the COMP racked up a gain of 17.2 points, or 0.7%.

The SPX added 1.4% this week, while the COMP climbed 2.1%.

NOTE :
Wall St. Earnings Season Kicks-0ff Next Week.
You Think The Defensive Bears @HILL 11K Can Hold Of Another Bullish Charge?

Oil futures extended their losing streak to a third consecutive session, with traders continuing to take their cues from Wednesday's downbeat inventory data. Despite generally positive reports on the U.S. economy this week, unexpectedly bloated petroleum inventories suggest that energy supply is still outstripping demand. Crude oil for May delivery ended the day off 47 cents, or 0.6%, at $84.92 per barrel. On a weekly basis, oil futures still managed to creep 0.06% higher.

Conversely, gold futures tagged a four-month high today, after reports hit the Street that the European Union and the International Monetary Fund agreed on the terms of an aid package for debt-strapped Greece. The proposed bailout could be extended as soon as this weekend, with European Central Bank President Jean-Claude Trichet asserting on Thursday that default "is not an issue" for the Mediterranean country. The news boosted the euro and pressured the U.S. dollar, effectively rekindling investors' appetite for the precious metal. By the close, June-dated gold tacked on $9, or 0.8%, to end at $1,161.90 per ounce. For the week, gold rallied 3.2%.

Levels to Watch in Trading:
Dow Jones Industrial Average (DJIA – 10,997.35) - support at 9,000; resistance at 11,000
S&P 500 Index (SPX – 1,194.37) - support at 950; resistance at 1,300
Nasdaq Composite (COMP – 2,454.05) - support at 1,900; resistance at 2,600