Geithner, Gold And Growth - The Market Movers

Stocks moved in a narrow range today, as Treasury Secretary Geithner said nothing controversial and neither buyers nor sellers were able to mount a convincing show of strength.

Commodity stocks advanced modestly, partly on comments from the deputy head of the People's Bank of China that the economy will grow 8 percent this year.

Gold, however, continued its decline, down 7 days in a row after hitting $1,000 on February 20th.

Another help: no drama in financials.

Late in the day Standard and Poor’s lowered its credit rating on Bank of America one notch, which dropped B of A about 3 percent, but no more.

One exception: life insurers were down double digits as Fitch cut its credit ratings on Lincoln National .

Coke prices corporate bond offering. We've talked often about how the corporate bond market is recovering—today Coca-Cola priced $2.25 billion in notes in a two-part sale, one part (5 year notes) yielding 1.85 percentage points over U.S. Treasuries, the other part (10 year notes) 2.05 points over Treasuries.



Questions? Comments?