Meadows on the Markets 4.13.2012

In sum, today reversed most of yesterday’s rumor-inspired gains since, afterall the rumor proved false. S&P futures are closing near their lows of the day with traders removing positions before the weekend. S&P futures closed down 1.25%, with DJIA losing 1% as well. 

Traders moved into the typical correlations with the decline in equities: Gold down 1.5%; Crude Oil down 0.75; US$ Index up 0.8%; 30-year bonds gained 0.8%; 10-year notes up 0.3%.

Looking ahead to next week, we’ll see earnings, earnings, and earnings. Citigroup (C) reports first thing Monday morning, with analysts expecting EPS of $1.01. Also, Monday morning, Charles Schwab (SCHW), Gannett (GCI), and Mattel (MAT) report.

Tuesday is when earnings really kick into gear with Coca-Cola, (KO), Goldman (GS), Harley-Davidson (HOG), Johnson & Johnson (JNJ), State Street (STT), U.S. Bancorp (USB), IBM (IBM), Intel (INTC), and Yahoo (YHOO) among a range of others. 

Below, check out the weekly performance among equities, commodities, bonds, and currencies:

– Gold +1.6%
– 30-year Bond +1%
– 10-year Note +0.4%
– US$ flat
– EUR flat
– Crude Oil -0.4%
– DJIA futures -1.3%
– S&P futures -1.6%
– NASDAQ -2%
– Natural Gas -4.8%