Market Wrap: Modest Gains On Mixed Data
Here's our last look at the markets today--U.S. stocks rallied modestly after a better-than-expected U.S. jobs report sparked the first weekly gain in equities in the last month. Also--market moving comments heard on CNBC today from U.S. Treasury Secretary Hank Paulson sent the U.S. dollar higher. Mary Thompson has all the winners and loser - she's CNBC's "Eye On The Floor."
The Dow , NASDAQ and S&P all closed out the week higher, but it was The Russell 2000 that ended up being the big winner outperforming all the other indexes for the week.
Today’s data was mixed – we saw a sell off in oil late day – and gains in banking and brokerage stocks off-set continued weakness in the home building sector.
Citigroup was the best performing stock in the Dow for the week, on speculation there could be a restructuring or management changes.
McDonald’s was a big winner as well, after same store sales were up 6.2% on a global basis in November.
On the downside, Ford performed poorly – down 11% on news that the company reversed its convertible bond offering.
Pfizer was a loser on the week as well and the worst performing stock on the Dow this week.
And what were those market moving comments heard on CNBC today from Treasury Secretary Hank Paulson? Paulson called the jobs report very good news and said we’ve made a successful transition from an economy that was growing at a rate that was not sustainable to one that is sustainable.