It had to happen at some point. Yes, Wall Street finally broke its 4-week winning streak, with the major indices down overall this past week amid Fed tapering worries (even as "don't fear the taper" became a rallying cry by some), a Nikkei plunge and weak manufacturing data from China.
But one particular record still held, as the Dow rose for a 19th straight Tuesday before the slump began in later trading Wednesday. This is the longest Tuesday streak in history and the second-longest weekday streak ever (good cocktail party fodder: the longest streak ever was in 1968, when the blue-chip index was up for 24 straight Wednesdays). Will we go for 20 Tuesdays when Wall Street opens next week after the long holiday weekend? Stay tuned.
Retailers had a tough time this week, with Gap, Abercrombie & Fitch, Aeropostale and Sears (SHLD) all sinking following disappointing earnings and same-store sales. Next week we'll see another trickle of retailers on the earnings front, including Costco (COSTRead More »from Last Trading Week of May Ahead After Holiday