US Stocks end on a Mixed Note
US Stocks end on a Mixed Note on the Last Trading Day Prior to Christmas weekend
Author: Williams Smith 12/24/2010
December 23, 2010 – US stocks seem to have taken an early vacation. On Thursday, 23rd December, 2010, US stocks ended on a mixed and a rather flat note post minor improvement in job market and consumer spending.
Where Dow Jones (INDU) rose 0.1% or 13.78 points, SPX (S&P 500) fell 0.2% or 2 points. The Nasdaq composite index fell 0.2% or 6 points to 2665.60. All these chief indices have gained over 10% in the year 2010. There was a slight fall in the bond prices.
The yields on a ten year treasury note reportedly rose from 3.35% to 3.39%. Reports that were surfaced on Thursday, 23rd December, 2010 showed a slight rise in new house sales, a remarkable hike in personal income and spending and a notable drop in unemployment cases.
According to the reports of the Commerce Department, personal spending has registered a 0.4% rise and personal income has risen by 0.3% in the month of November. This shows that both the income and the spending capacity have improved.
As compared to the expectations, these results are being viewed as fairly moderate. With the US stocks hovering around the break-even point for a major part of the session, the Wall Street seems to be somewhat unfazed by the statistics. Commenting on the issue,
Tony Zabiegala, a managing partner with Strategic Health Partners said that investors and brokers have left their working desks for the Christmas vacation. Everybody seems to have taken a break from the stock market. The US stock markets shall remain closed on Friday, 24th December, 2010 on account of holiday weekend.
Short URL: http://broadmiss.com/?p=1123
Posted by Nicholas
on Dec 24 2010. Filed under Featured News, Finance.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
