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Closing Bell: Too much, too soon? (FSLR, YONG, ETRM, PFE & MGM) |
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| Oct 02, 2009 09:00 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: After the bell, Major movement, Pfizer (PFE), S and P 500, DJIA, NASDAQ  The market opened sharply lower this morning anticipating, perhaps, unemployment data that was worse than the data turned out to be. The September unemployment rate rose to 9.8%, exactly what most observers had been expecting.T<font><font>h</font></font>e markets tried to gain back more than all the early losses, with all three major indexes ending slightly down. Crude oil has fallen below $70/barrel again, and gold has broken through $1,000/oz again. It could just be the case that the nearly 60% run-up since March in the S&P 500 was just wishful thinking that the economy was turning around and that consumer spending would would tick up as things improved. That thinking has not been borne out yet, so markets are likely to wobble around until the consumer decides what to do -- save or spend. The holiday season could write the ending to the story. Here are todays unofficial closing numbers: Dow 9,487.37 -21.91 (-0.23%) Continue reading Closing Bell: Too much, too soon? (FSLR, YONG, ETRM, PFE & MGM) Closing Bell: Too much, too soon? (FSLR, YONG, ETRM, PFE & MGM) originally appeared on BloggingStocks on Fri, 02 Oct 2009 16:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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