Sunday, December 20, 2009

Weekly update - December 20, 2009

Stocks:
Tech led the Nasdaq higher but the Dow and S&P500 fell this week.
S&P500 closed at 1,102.47 down -0.36%.
Dow closed at 10,328.89 down -1.36%.
Nasdaq closed at 2,211.69 up 0.98%.

The yield curve flattened as long term bond yields fell and short term yields climbed. The 30-year dropped 4 bps to 4.46% and the 10-year shed 9 bps to 3.45%. The 6-month was flat at 0.14% and the 3-year gained 1 bp to 1.31%.

What to look for next week:
7:30am Tuesday - Q3 GDP Revision
9am Tuesday - Existing Home Sales
7:30am Wednesday - Personal Income & Outlays
9am Wednesday - New Home Sales
7:30am Thursday - Durable Goods Orders

(U.S. equity markets close early Thursday - 1pm eastern - and are closed Friday for the Christmas Holiday)

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