PortfolioCrafter - Market Commentary 12/20/07
December 20th, 2007 / 9:24 am / by portfoliocrafter
The Dow Jones industrial average gained nearly 0.3 percent. The broader S&P 500 index gained nearly 0.5 percent. The Nasdaq composite gained 1.5 percent.
Stocks opened higher Thursday morning, despite news of a writedown by Wall Street fixture Bear Stearns and weak earnings from FedEx.
But the session turned mixed in afternoon trade with the Nasdaq leading other major indexes. Near the close, stocks regained some momentum to close slightly higher.
Friday brings a University of Michigan report on consumer sentiment, which Wall Street monitors for information on consumer spending habits.
After the closing, BlackBerry-maker Research In Motion Ltd reported strong third-quarter earnings, sending the company’s stock up 14 percent after hours.
All the best,
Manuel Jesus-Backus
The Portfolio Crafter
