STOCKS RALLY AGAIN, AS EXHAUSTING WEEK FINALLY ENDS: Here's What You Need To Know

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Photo: Brookeshaden via Fickr

The week is over! Thank God!But first, the scoreboard:

Dow: +44.20
NASDAQ: -1.08
S&P 500: +2.86

And now the top stories:

  • This was the week where Wednesday felt like Friday, thanks to the tiring and much-hyped FOMC meeting that sent the dollar spiraling, commodities soaring, and stocks to brand new highs.
  • By the time Thursday’s (weak) GDP report came out, everyone was already tired.
  • Today, with no trading in Japan, and much of the world watching a wedding in Europe, the mood was downright comatose.
  • There was some news, which basically boiled down to: The economy is OK, and earnings are still solid, though not solid enough to translate into anything great for workers. That’s been a consistent theme, from P&G to Caterpillar.
  • Bottom line: Stocks ended pretty much higher, at brand new records. Gold rallied.
  • Have a great weekend! It’s the Berkshire Hathaway annual shareholders meeting on Saturday, and Sunday is May Day, so there should be some interesting headlines.
  • Click here for a guide to how the middle class is getting squeezed more than ever >

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