Week Ended December
18, 2009
Stocks were mixed for the
week. The Nasdaq and the small-cap indexes experienced a gain, while the
large-cap indexes reached 14-month highs on Monday but ended the week with a
loss. Investors began the week on a bullish note, encouraged by news of
progress in resolving Dubai’s debt problems and word of a huge merger in the
energy sector. Worries over the financial sector drove down stock prices on
Tuesday, however. Investors appeared concerned that massive equity sales on the
part of banks seeking to exit from the Treasury’s Troubled Asset Relief Program
(TARP) would dilute current shareholders. Stock prices took another leg down on
Thursday, when the Labor Department reported a small but disappointing rise in
weekly jobless claims. Investors were also discouraged by a rise in the U.S.
dollar, which gained on the euro following a downgrade in Greece’s credit
rating. A stronger dollar, while beneficial in controlling import costs, would
weigh on U.S. exports. A disappointing reception for an equity offering from
Citigroup also weighed on sentiment. Good quarterly results from several
prominent technology firms on Friday helped the Nasdaq rally and end the week
with a gain.
|
U.S. Stocks1 |
|||
|
Index2 |
Friday’s Close |
Week’s Change |
% Change |
|
DJIA |
10328.89 |
-142.61 |
17.69% |
|
S&P 500 |
1102.39 |
-4.02 |
22.05% |
|
NASDAQ
Composite |
2211.69 |
21.38 |
40.24% |
|
S&P
MidCap 400 |
714.89 |
8.95 |
32.81% |
|
Russell 2000 |
609.26 |
9.47 |
21.99% |