With the Dow finishing up another 1% last week to close near 11800, can the industrials break through 12000 this week? Well, there are three major Dow components reporting their earnings this week: IBM Corp (NYSE: IBM), General Electric Corp (NYSE: GE) and Citigroup (NYSE: C), so indeed this could be the catalyst that places the Dow above 12000. There are other major banks reporting their earnings this week as well such as: Bank of America Corp (NYSE: BAC) and The Bank of New York Mellon Corp (NYSE: BK). If any sector has lagged in this bull run it has been the banking sector. If banks can begin to demonstrate strength and stability, we may be looking at Dow 13000+ and the S&P 500 1300+ by year end. (?)
Interesting development today out of Apple (NasdaqGS: AAPL) ahead of their earnings report tomorrow. There is a report out that Steve Jobs is taking his second medical leave in as many years to focus on his health. The last time this type of news was circulating and reported, Apple’s stock took a significant hit before recovering. This in fact may be the excuse that investors and traders may use to sell off the markets a bit, and if so, this could create an opportunity that some other investors have been waiting on.
Have a safe and prosperus week.