AFP – Wall Street heads into next week with strong tailwind from recent days’ rally and brighter outlook as traders keenly await President Barack Obama to unveil new plans for boosting the shaky US economy.

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Though liquidity was winding down quickly into the close of the week, we would nevertheless see a significant shift in the traditional market gauges for risk appetite Friday. With the help of a dubious nonfarm payrolls (NFP) report, risk appetite would start climbing before the US exchanges came online.

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Neither oil nor gold would benefit from the carry through of risk appetite trends through the week’s close. With speculative interests fully drained for the extended holiday weekend, will traders rouse enough momentum to carry critical breakouts next week?

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AP – The Securities and Exchange Commission has reached a settlement with former Qwest Communications International Inc. Joseph Nacchio in a civil lawsuit against him.

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Reuters – The broad S&P 500 index closed its best week in eight on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.

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AP – A look at economic developments and activity in major stock markets around the world Friday:

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Reuters – Wall Street advanced for a third day on Friday as the monthly payrolls data showed the U.S. economy may be in better shape than investors had thought and helped whet some investor appetite for risk.

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AP – Stocks extended their rally Friday after an encouraging report on jobs lifted hopes about the pace of economic growth.

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