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Markets closed Friday with an overall rally for the week with all the major indexes increasing over 2%. The positive trending last week did not seem to be affected by the poor report on job growth. The report indicated job growth was much slower than anticipated with only 39,000 jobs added in November. The unemployment rate increased from 9.6% to 9.8%. Fortunately, investors turned their interests to focus on policies and prospects to improve the market. Stocks lowered modestly at open on Monday with reports from the Federal Reserve chairman indicating it may take four or five years for the economy to return to a normal unemployment rate and hinted that the Fed may initiate another round of bond purchases as an additional stimulus measure. The Bush era tax cuts are currently being negotiated and the preliminary agreement would extend the tax cuts two years for all incomes and permit the unemployed to file for extended benefits. At mid morning the major market indexes are mixed. DJIA is down 19.03 points to 11,363.06. Nasdaq is up .87 points to 2592.33. S&P 500 is down 1.00 points to 1,223.71. The Treasuries 10-year yield is down 0.06 to 2.96%. Oil is up 1.22 to $89.23 a barrel. Precious metals regain value as investors once again seek security. Gold is up 10.90 to $1,417.10 . The dollar is up 0.0067 to the Euro at $1.33. Author: Pamela Frost
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