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States are grabbing stimulus money to plug budget deficits

Have you wondered why we don't see more job growth under the economic stimulus program? One reason is that states are using half of $8.8 billion dollars to plug budget deficits. In all, the Department of Education is disbursing $56.6 billion to the states with few requirements as to how the money is spent.

Here's a breakdown of some of the projects being funded:

Continue reading States are grabbing stimulus money to plug budget deficits

Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP)

Today was one of those low news flow days where you never had any real solid feel for where the market would close until the very end of the session. We have seen too many rallies dashed by closing imbalances at the end of the day when there was thin volume.

Some Philly Fed data helped hold the market, and that was on the heels of the largest drop in continuing jobless claims since 2001. Some of the agriculture stocks staged a small comeback after yesterday's huge losses.

Here were the unofficial closing bell levels:

Dow 8,554.77 +57.59 (0.68%)
S&P 500 918.34 +7.63 (0.84%)
Nasdaq 1,807.72 -0.34 (-0.02%)

Top Analyst Upgrades
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Continue reading Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP)

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 08:30 AM

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