Stocks briefly dipped before reclaiming slight gains to end the week. A solid U.S. jobs report was the main reason behind an upbeat mood on Wall Street. Investors also looked ahead to next week's Federal Reserve meeting. Worries over ballooning domestic supply in crude oil pummeled the commodities market again. The number of active drilling rigs in the U.S. climbed by 12 in the past week, its eighth gain in a row. Crude was down more than 9% for the week. Caterpillar (CAT) rose after denying allegations it had broken tax laws in the period from 2007 to 2012. The IRS raided its offices last week in an investigation tied to those allegations. Alaska Air (ALK) rose after reporting a 1.7% increase in revenue passenger miles in February. Capacity and load factor also rose last month.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.