Kitsap Business and Economy

Dow now at 10,497, down 50 points. Markets will be closed Friday.

NEW YORK (AP) — The stock market looks to end 2009 on a down note as institutional investors make some last-minute adjustments to their portfolios.
News that weekly unemployment claims fell to the lowest level since July 2008 gave stocks an initial blip Thursday, but the market has given back the gains as the few traders on hand collect profits to close out their books. Many investors believe that the market, which has had its best year since 2003, has seen the bulk of its gains for a while. So those were still at their desks were moving money out of some stocks.
The Dow Jones industrial average is down 58, or 0.5 percent, at 10,489. The broader Standard & Poor’s 500 index is off 4, or 0.4 percent, at 1,122, and the Nasdaq composite index is off 6, or 0.3 percent, at 2,284.

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This entry was posted on Thursday, December 31st, 2009 at 10:09 am by Rachel Pritchett and is filed under Uncatagorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.