US Stocks End The Week Quietly

The week ended quietly on Wall Street, says A. G. Edwards market commentator Alfred E. Goldman, corporate vice president and chief market strategist at A.G. Edwards & Sons, Inc.

Here is the Week end stock market commentary by Alfred Goldman

"Investors were cautious ahead of Tuesday's Federal Reserve meeting. In the day's major economic report, the number of U.S. jobs grew more than expected in November, while the unemployment rate remained at 4.7%. The report reassured investors that the economy is not heading into a recession. At the same time, the data sustained hopes for a rate cut on Tuesday.

"Credit card companies were weak on fears that consumer spending will slow. American Express was a drag on the Dow, losing 2.57 to 56.96. Merger news failed to give the market a lift. Gemstar-TV Guide fell 99 cents to 4.99 after it agreed to be bought by Macrovision for $2.8 billion. Macrovision was down 5.66 at 20.44.

"The Dow finished up 5.69 at 13,625.58. NYSE volume totaled 1.2 billion shares. The S&P 500 fell 2.68. The Nasdaq was down 2.9. Advancing issues beat decliners by a narrow margin on the NYSE. Decliners held a small edge on the Nasdaq. The 10-year Treasury note was down 25/32 to yield 4.10%. Treasuries had the first weekly decline since October. For the week, the Dow was up 253 points, or 1.9%. The S&P 500 rose 23 points, or 1.6%. The Nasdaq gained 45 points, or 1.7%."

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