The market moved higher for a fourth straight time and completed the best week in 2010. Trading volume was very light. The gains from this week were offsetting losses from the previous week, indicating the market has different opinions entering into the earnings season. Several Dow components, including JP Morgan, Bank of America and Alcoa, are going to announce earnings results next week.
 
All 10 major sectors finished the session higher led by consumer discretionary and energy. The CRB commodity index rose 0.4%. The US dollar was lower against most currencies. Treasury yields were higher. The three-month US LIBOR was unchanged. The VIX index dropped less than 1 point. The market breath was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

The market continued to move higher on Thursday following yesterday's sharp rally. All three major indexes were higher by around 1% for the day. The gain came after some better-than-expected economic news. Initial jobless claims were 454K in the latest week, which is slightly lower than the 460K expected. The market has gained three straight sessions so far in the week. We are going to enter the earnings season next week. With very few companies pre-announcing earnings warnings, investors seemed to believe that the earnings picture may not as bad as the market behaved in the past two weeks.
 
All 10 major sectors finished the session higher led by consumer staples and materials. The CRB commodity index rose 0.5%. The US dollar was mixed against most currencies. Treasury yields were higher. The three-month US LIBOR was unchanged. The VIX index dropped more than 1 point. The market breath was positive on both NYSE and Nasdaq. The volume was neutral compared to the previous session.

The market rose sharply on Wednesday with all three major indexes finishing the session higher by around 3%. There is no specific news item that inspired today's rally so the market action is more about the market itself.  Before today's rally, the market has been down over 16% during the past two months amid concerns of a slowing economy. Now with recent data validating such concerns, some investors may think the 16% drop had been more than enough to compensate for a slow economy. Indeed, market action during the final two sessions last week showed the unwillingness of the market to continue going down despite unfavorable economic news happening in those two days.
 
All 10 major sectors finished the session higher led by financial and materials. The CRB commodity index surged 1.9%. The US dollar was lower against most currencies. Treasury yields were higher. The three-month US LIBOR was unchanged. The VIX index dropped almost 10%. The market breath was positive on both NYSE and Nasdaq. The volume was neutral compared to the previous session.

The market rose modestly on Tuesday following the holiday long-weekend. The rise was the first for the Dow in more than a week. However, the closing price was well off its intra-day highs. The market started with a strong note from the currency and overseas markets. The euro rose to a one-month high while many European and Asian markets moved higher as well. But another worse-than-expected economic news reminded investors that the rebound could just be technical and temporary. The ISM Service Index for June came in at 53.8 while consensus was calling for a reading of 55.0. As a result, all three major indexes dipped into red in the afternoon before rebounding modestly towards the end. 
 
All 10 major sectors finished the session higher led by utilities and energy. The CRB commodity index dropped 0.4%. The US dollar was lower against most currencies. Treasury yields were lower. The three-month US LIBOR was unchanged. The VIX index was little changed. The market breath was positive on both NYSE and Nasdaq. The volume was heavier compared to the previous session.

Market is closed for Independence Day.