Title: Market analysis with Jim Lowell

" We turn to our market wrap. Wrapping up an impressive rally for the week the numbers the Dow Jones Industrial Average. Closing up nearly 8744. Up 32 points the Nasdaq Composite closed up more than a point today about -- half. The S&P 500 ended at 940 off less than a point. Regionally the Bloomberg's New England index dropped more than one of the quarter the New England tech stock index went down more than a quarter point. Market analysis tonight Jim role as chief investment strategist at adviser investments and editor of fidelity investor dot com -- Jim -- and are they burning is driving the news background in the market today let's start with chief."

" G came in basically had delivered what the market I think was expecting which was fairly dire news relating to its financial services unit. Doing some tremendous pressure there are still also are reflective of -- very dramatic downturn in advertising driven businesses like NBC universal. So there remains sort of -- weakness of the core especially. Of the financial that the leadership financial services companies. Including Citibank and Bank of America both of them also reported today and also. Reported really what I would call struggling books of business. And a dramatic uptick in loan loss reserves which impedes their ability to land on -- going forward basis and also reflects the fact that they think there's some more lumps to come."

" But you also have a take on some of these big bank to say there are smart trade but may be a poor investment."

" I would not want to be long even these leadership bank names right now they're not giving you the dividends -- step up and take on the risk that. Many of them have basically -- to their toxic assets off their balance -- so they're still there. And we know that banks fare you know fairly poorly in in recessions in ordinary times and these are no ordinary times nevertheless. How many bank stocks have tripled in value since their mid march -- so for traders who were really willing to take on a lot of risk and the potential for a lot of laws. They may make sense for long term investors not yet. Also IBM today -- some good news there. Phenomenal news out of IBM echoing what we heard from Intel and as we have been saying almost year long technology not financial we're gonna. Lead us out of this recession they clearly are IBM not just being able to. Be done because good does assessments both on their top and their bottom line. But also wrapping up their forecast seen better sales down the road in 2009 not even wait for 30 so. The technology sector continues to look to me to be the the same growth play in this market."

" Lots of unemployment figures from the states today. Unemployment topping 10% in fifteen. States this is still an ongoing."

" Problem it is an extraordinary problem Michigan pushing past 15% unemployment rates. A level not seen in many state and over 25 years of this recession continues to be. Just -- think I've taken a heavy toll on on jobs and as we've heard both the Fed the treasury -- suggests this really could be a jobless recovery so that may be. A hurdle that's in this market and economy sustainable rebound away for just wants to several years."

" All right we'll take a breather or go back to work on Monday thank you Jim thanks Saturday car market rectified with Jim Lowell from adviser investments and fidelity investor dot com."