The market ended up higher due to the majority believe that the stimulus plan by Obama will be helpful to boost the market. DOW jones industrial average rose 217.52 points on friday, vast major sector follow the trend especially the basic material, financial market and transportation. 

The very bad job market resulted in 598,000 job lost, which believed it is the worst since 1974, and the jobless claim was hit 7.6% last month. 

US senate would likely to pass the stimulus bill of more than 780 billion dollar to pump into the market to make sure the situation will not be worsen as another great depression. 

MasterCard Inc (MA) became one of the biggest winner this week, by beating the analyst expectation of its earning, the share was rosen up $6 before the market open and was up $14 again during intraday trading, resulted in $20 rise in one single day. MasterCard easily beat the estimates, its profit was $1.87 a share in the fourth quarter, beating the $1.62 average estimate of 21 analysts, it is so far the world second largest credit card network.  

In Japan, irregardless of loss, the world most profitable automaker - Toyota (TM) share managed to inch higher after the drip before its bad earning result on friday.  Toyota reported a loss of $164.7 billion yen, or USD $1.8 billion, down USD$5 bilion the same period a year ago. To reduce cost, Toyota has announced to cut its temporary work force from 9000 to 3000. 

Swiss Re, one of the world insurer giant which based in Zurrich, got $2.6 billion capital infusion from Berkshire Hathaway. Warren Buffet has so far invested $5 billion in Goldman Sach and $3 billion in General Electric since the financial crisis began. Despite that it has reported close to $1 billion swiss franc net loss in 2008, Swiss Re believed that it will continued to deliver strong Property & Casualty results.   

Most of the tech and financial stock was up higher on the fifth trading day this week as well. 

Oil price remain at the $40 per barrel level now, it was dip below $39 after the job data released on thursday, worried that the demand will be suffered by the slow economy.

Gold has risen to $914 per troy ounce, Platinum has risen $22 to $1004 per troy ounce. 

Top News 

Feb 2, 2009 Week :-

1. MasterCard Rises After Beating Estimates on Pricing 
2. Oil slips to $39 after jobs report
3. Job loss: Worst in 34 years
4. Toyota losses mount, Volvo suffers Q4 loss
5. Madoff’s Mass. hit exceeds 456 victims
6. Swiss Re gets capital boost from Berkshire Hathaway