Stock Market Update -Dec 21st

The market has been stuck in a range for the last two weeks around the 900 level on the S&P 500. Oil prices continue to drop, closing just under $34 per barrel. New unemployment claims surged past 500,000 again this week. The Fed basically dropped interest rates to zero this week, while mortgage rates also dropped significantly.




Next week is the Christmas holiday week, so expect light trading.

The 2008 market will go down in history
FedEx cuts employees' pay, suspends 401(k) payments
Drop in consumer prices is most since 1932
Bush throws lifeline to U.S. automakers
Auto makers to get more than $17 billion in loans
Paulson Seeks Second $350 Billion in Bailout Funds
Euro Makes a Comeback
The Next Big Bubble To Burst: U.S. Treasuries
If Fed mimics BOJ, Treasury yield drop could be big
What's next for America?
Dollar Staggers as U.S. Unleashes Cash Flood, Deficit
Don't destabilize Russia, Putin warns foes
California posts 8.4% jobless rate, third highest in U.S.
California's budget mess gets worse
Outlook Darkens as Recession Deepens