Stock market update as of 12/07/09

Lack of market-moving headlines on Monday morning caused a lot of "wondering around" for stock investors. Lack of such news made a lot of trades uncertain, thus stock trading didn't look confident. When such things happen, currency takes a lead. The market was somewhat determined by U.S. dollar currency.

Federal Reserve' Chairman Bernanke pointed out that interest rates will remain low for some period longer. Although there is some pressure to raise interest rates related to job market. In result, stocks where traded with modest gains on Friday. However, this afternoon stocks where traded at a modest loss.


Shares of banks, as well as diversified financial services remained week. Citigroup announced that the company asked to repay $20 billion of its bailout funds. Bank of America announced to repay $45 billion dollar TARP loan.

The Wall Street Journal reported that the total cost of TARP could be cut by $200 billion dollars.

Utilities and Telecom stocks performed fairly well. Telecom stocks gained 4.2%, and utilities stock gained 4.6% both during last six sessions of stock trading.

Gold prices and oil prices closed at a lower price. However, natural gas prices had a modest gain.

Reports show that consumer credit demand is moderate but could increase by the end of 2009.

Advancing Sectors: Telecom (+1.8%), Utilities (+0.7%), Consumer Discretionary (+0.5%), Consumer Staples (+0.1%), Materials (+0.1%)

Declining Sectors: Financials (-1.6%), Tech (-0.5%), Energy (-0.3%), Health Care (-0.2%), Industrials (-0.1%)DJ30 +1.21 NASDAQ -4.74 NQ100 -0.5% R2K +0.1% SP400 -0.1% SP500 -2.73 NASDAQ Adv/Vol/Dec 1381/1.88 bln/1329 NYSE Adv/Vol/Dec 1630/941 mln/1402

Source: Yahoo Finance