The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Savings Experiment: Snow Removal
The market should have focused on the downward revision of Q3 GDP to 2.2%. When the benefits of "cash for clunkers" is taken out, the economy barely grew at all.Stocks ended up being driven by good housing sales figures which were up 7.4% for November and equities were up for a third consecutive day. The market's movement between now and the end of the year will probably be driven by retail sales numbers, but there were few of those today.
The unofficial closing numbers:
Dow 10,464.93 +50.79 (0.49%)
S&P 500 1,118.02 +3.97 (0.36%)
Nasdaq 2,252.67 +15.01 (0.67%)
Bank stocks did poorly, with Citigroup, Inc. (C) down 2%. Airlines stocks rose sharply on hope that fuel costs may drop.
Most tech shares gained a little, with Apple, Inc. (AAPL) out in front probably due to word that the company may move into the internet TV business.
In general, people were better off leaving for the holidays. The indexes did not move much and volume was light.
Douglas A. McIntyre is an editor at 24/7 Wall St.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
12-22-2009 @ 8:18PM
mike said...
I've always had a problem with Cash4Clunkers. To me it seems to go against simple supply and demand economics. How can we push all of these new cars into a market already saturated with used and repossessed vehicles (i.e. www.repofinder.com)? Now new cars are worth even less, we have more Americans in debt, and eventually more repossessions.