Investors' repositioning for the new year collided with interest rate fears to kick off 2007 with trepidation and anxiety running through the financial markets, with the notable exception of tech and biotech stocks.
Friday's stronger-than-expected jobs number forces the markets to wrap their arms around the idea that a recession is unlikely, and that is a relief. But they also need to embrace that the Federal Reserve is not opening the door to rate cuts anytime soon, and that is disappointing to many investors.
The Dow Jones Industrial Average fell 0.6% Friday and 0.5% on the week to close at 12,398.33. The S&P 500 slipped 0.6% on Friday and 0.6% for the week to close at 1409.68. Only the Nasdaq Composite can call the first week of the year a strong one, thanks largely to Thursday's rally. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,326.70 | 1,093.75 | 2,146.54 | 32.23 |
Oil *
77.09
|
|
DOWN
137.70
|
DOWN
16.88
|
DOWN
29.51
|
DOWN
0.56
|
10 Yr
3.22%
SPDR Gold
115.39
|
|
-1.32%
|
-1.52%
|
-1.36%
|
-1.71%
|
Data delayed 20 minutes |
Connect with TheStreet