Wall Street Caps Dizzying Week With a 126-Point Rally

Dow In 1.5% Deficit For Volatile Week
U.S. stocks ended a dizzy week on a high note today, as Wall Street viewed the latest round of economic reports with rose-colored glasses. Specifically, investors celebrated encouraging data from the Commerce Department, which said seasonally adjusted retail sales jumped 0.5% in July -- the biggest monthly advance since April. The upbeat figures helped to overshadow a steep drop in the Reuters/University of Michigan consumer sentiment index -- which fell to a 31-year nadir in August -- and aided the bulls to their second straight victory. By the close, the Dow Jones Industrial Average (DJIA) added more than 125 points -- though even a triple-digit jump looked relatively modest against the backdrop of one of the most volatile weeks in years.

ANALYSTS' QUOTES
"There is no question the sharp selloff in asset markets around the world over the past few weeks, on top of an already fragile economic picture, had a major influence on today's reading."

"The consumer is at the center of the weak economy debate ... and as such, even a modestly better-than-expected number today provides us with some level of relief."

“It’s true the market is off its meds for the moment, but it’s still highly susceptible to headline news.”

“You’ve got some extremely confused investors out there."

The Dow Jones Industrial Average (DJIA – 11,269.02) ended with a gain of 125.7 points, or 1.1%, as all but nine of its 30 components finished higher. Leading the bullish majority was Boeing's (BA) 4.9% jump, while JPMorgan Chase (JPM) paced the laggards with a 2.1% retreat. After two straight days in the black, the Dow pared its weekly deficit to 1.5%.

Meanwhile, the S&P 500 Index (SPX – 1,178.81) advanced 6.2 points, or 0.5%, but still gave up 1.7% since last Friday. Finally, the Nasdaq Composite (COMP – 2,507.98) gained 15.3 points, or 0.6%, to end north of the 2,500 level for the first time in a week. What's more, the tech-rich COMP fared the best for the week, trimming its losses to about 1%. 

HAPPY WEEKEND

Wall Street's Mood Swings Manic; Dow Jumps 423 Points

The SPX and COMP recovered 4.6% and 4.7%, respectively
Extending Wall Street's bipolar price action of late, U.S. stocks reversed Wednesday's trajectory to take a manic turn today. Along with a well-received earnings report from Cisco Systems (CSCO), the bulls celebrated a drop in initial jobless claims, which fell beneath the closely watched 400,000 marker for the first time in months. By the time the dust settled, the Dow Jones Industrial Average (DJIA) added more than 420 points, or nearly 4%, marking its fourth straight absolute move of 3.5% or more -- a feat not accomplished since November 2008, according to Schaeffer's Quantitative Analyst Chris Prybal. What's more, should the blue-chip barometer extend its see-saw momentum tomorrow, a similarly significant move in either direction would tie the record set in October 1987.

The Dow Jones Industrial Average (DJIA – 11,143.31) recovered most of Wednesday's losses, adding 423.4 points, or nearly 4%, to reclaim the 11,000 level. For the second time this week, all 30 of the Dow's blue chips finished higher, led by CSCO's near-16% gain. In fact, all of the index's components have ended in unison each day this week.

 Similarly, the S&P 500 Index (SPX – 1,172.64) reversed yesterday's deficit -- almost exactly -- advancing 51.9 points, or 4.6%. Finally, the Nasdaq Composite (COMP – 2,492.68) fared the best of the three, thanks to earnings-related optimism in the tech sector. Specifically, the COMP gained 111.6 points, or 4.7%, after running into a wall near the 2,500 level.

HAPPY TRADING

Worst Sell-Off Since Late 2008; Dow Plunge 512.76 Points

NIGHTMARE ON WALL STREET
Major Indexes are all in the red for 2011
The VIX {Fear Index) jumped to a new high
The Dow Jones Industrial Average (DJIA) may have halted its losing streak on Wednesday, but the bears were back with a vengeance today. Ahead of tomorrow's highly anticipated nonfarm payrolls report, Wall Street was none too impressed with the weekly jobless data from the Labor Department. The discouraging stats sparked an ominous note ahead of the July jobs report, and buyers hit the exits en masse as the session progressed.

By the time the bell mercifully sounded, the DJIA found itself more than 500 points south of breakeven, marking its worst single-session drop since Dec. 1, 2008. On the flip side, the CBOE Market Volatility Index (VIX - 31.66) -- or the Street's "fear barometer" -- skyrocketed more than 35% to tag a new 52-week high, marking its heftiest daily percentage gain since early 2007.

The Dow Jones Industrial Average (DJIA – 11,383.68) steepened its slide as the closing bell approached, surrendering 512.76 points, or 4.3%, by the bell. In fact, all of the Dow's 30 blue chips ended in the red, as not even soon-to-split Kraft Foods (KFT) could eke out a win. Blazing the path lower was Alcoa (AA), which suffered a 9.3% plunge, while McDonald's (MCD) emerged as the least scathed, dropping just 1.5%.

In similar fashion, the S&P 500 Index (SPX – 1,200.07) snowballed 60.3 points, or 4.8%, but found a late-session foothold atop the 1,200 level. Finally, the Nasdaq Composite (COMP – 2,556.39) cascaded 136.7 points, or 5.1%, to end at a new year-to-date nadir.

HAPPY TRADING