Thursday, December 31, 2009

MIDDAY LUNCH


Dow 10488.66  -59.47, Nasdaq 2285.42  -5.70, S&P 1122.58  -3.72


The markets have moved off their session low but remain in negative territory on slim volume. 


U.S. stocks fell after a better-than-expected weekly unemployment report.  This cause many to fear that a strengthening economic recovery could prompt the Federal Reserve to move more quickly to raise interest rates.


Citigroup (C) 3.35 +0.02 and Bank of America (BAC) 15.22 +0.14 are the two most active stocks today. This is helping the Financial Sector to be a leading group today.


A descent since the open of pit trade has left crude oil prices with a fractional gain at $79.88 per barrel.


Pressure has picked up since the release of the latest natural gas inventory numbers. Natural gas inventories had a draw of 124 bcf, which is less than the consensus call for a draw of 145 bcf. Prices for the commodity have dropped sharply to trade with a -2.0% loss at $5.58 per contract.

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