每日市场点评 --- May 22, 2008

The market rebounded modestly following sharp sell-offs in the previous two sessions. The Nasdaq, the best performer among the big three, registered a gain of 0.7%. The news on the economic front was generally positive. The weekly claims came at 365K, down 9K from the previous week’s revised figure of 374K. Economists expected a reading of 372K. The continuing claims were unchanged from the previous week. A sharp reversal in the crude oil price also helped market sentiment.

Financials finally broke its 4-day losing streak and gained around 1%. Energies were the main laggards due to the drop in oil price. The volume was on the light side compared to previous two sessions. However, one possible reason for the light volume may be due to the upcoming holiday weekend. The US dollar was higher against most major currencies while treasuries were sold off for a second straight session. The CRB commodity index ended the day lower by 1.3%.