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Saturday, December 18, 2010

WALL STREET : Major Indexes Round-up 18 Dec 2010

Investors Cautious As Year End Volumes Wind Down
Moody's Slashes Ireland's Credit Ratings
EU Stocks Slip On Ireland Letdown
Asian Market Mixed; Taiwan Hits 31 Month High
European Debt Drama Limits Bulls' Momentum
Dow Eases Into Shorten Xmas Week

The Dow Jones Industrial Average (DJIA – 11,491.91) ate away at its deficit as the session progressed – and even made a brief foray into the black – but still gave up 7.3 points, or 0.1%, by the close. Just 13 of the Dow's 30 blue chips ended higher, led by Boeing and Kraft Foods, while American Express paved the path lower for the 17 declining equities. Despite today's modest retreat, however, the blue chip barometer remains comfortably north of trendline support, and tacked on 0.7% since the start of the week – the best of its peers.
The S&P 500 Index (SPX – 1,243.91) essentially called the session a wash, advancing 1 point, or 0.1%. For the week, the SPX gained 0.3%.
Impressive NASDAQ Rises To Near 3-Year High
The tech-rich Nasdaq Composite (COMP – 2,642.97) tagged a near three-year peak of 2,651.35 in intraday trading, but settled for a more modest gain of 5.7 points, or 0.2%. Week-on-week, the tech index gained 0.2%.

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