Week Feb 25 2011 – Weekly Recap & The Week Ahead
“To me, the “tape” is the final arbiter of any investment decision. I have a cardinal rule: NEVER FIGHT THE TAPE!!!” — Martin Zweig
1. Libyan unrest roils markets — a major oil producer, Libya has closed all its ports, and as many as 550K barrels per day of production, or a third of Libya’s normal production, may now be shut in. In the meantime, a growing number of oil companies have suspended their operations there, and Eni (E) shut down a pipeline that brings natural gas from Libya across the Mediterranean Sea to Italy.
2. Bullish Sentiment Declined based on the latest Sentiment Survey from AAII — 
3. Consumer sentiment rises to a three-year high in February, according to a University of Michigan poll — the gauge rose to 77.5 in February from 74.2 in January. A prior estimate for sentiment in February was for 75.1.
4. Fourth-quarter GDP growth revised down to 2.8% — the U.S. economy grew at 2.8% pace in the final three months of 2010 — slower than the government initially projected — based on new data showing that consumers and state and local governments spent less than first estimated. Last month, the Commerce Department said gross domestic product climbed at a 3.2% annual rate in the fourth quarter.
The week ahead — Economic data from Econoday.com:
