Tuesday, December 29, 2009

CLOSING BELL

Dow
10545.41
-1.67
(-0.02%)
Nasdaq
2288.40
-2.68
(-0.12%)
SP 500
1126.20
-1.58
(-0.14%)
10-yr Note
+9/32
3.80%
NYSE
Adv 1482
Dec 1525
Vol 638 mln
Nasdaq
Adv 1315
Dec 1358
Vol 1.19 bln



The S&P 500 saw an end to its recent gains today.  After staring off in positive terriroty a stronger dollar pushed the market into negative terriroty for the day.

Consumer discretionary stocks (+0.2%), industrial stocks (+0.2%), and consumer staples stocks (+0.1%) were the only major sectors to net gains today. Energy stocks had the weakest showing and fell to a -0.7%. The sector's weakness came even though oil prices managed to muster a fractional gain and close pit trade at $78.02 per barrel.


The October Case-Shiller Composite was down -7.28% year-over-year vs. the -7.20% consensus.  No area in the 20 city index posted a year-over-year gain in home prices for the 19th straight month.

A more upbeat outlook on jobs pushed confidence in the economy higher in December for the second month in a row. Consumers' expectations for the job market over the next six months reached their highest level in two years. The Conference Board said its Consumer Confidence Index rose to 52.9, up from a revised 50.6 in November, but the reading is still far short of the 90 that would signify a solid economy.


Results from a $42 billion auction of five-year Treasuries caused little stir among both stocks and Treasuries. The auction was met with a bid-to-cover ratio of 2.6, which is above this year's average ratio of 2.3, but below the previous auction's ratio of 2.8. The benchmark 10-year Note was able to make its way higher into the close and finish with a gain of nine ticks, though. That put its yield back near 3.80%.

Advancing Sectors: Consumer Discretionary (+0.2%), Industrials (+0.2%), Consumer Staples (+0.1%)

Declining Sectors: Energy (-0.7%), Financials (-0.4%), Health Care (-0.2%), Materials (-0.1%), Utilities (-0.1%), Tech (-0.1%)

Unchanged: Telecom

No comments: