Thursday, December 13, 2007

Stocks mixed (up)

Stocks ended mixed. They pulled back out of the the gate this morning but Dow finished up 44 while NAZ & S&P500 were essentially even. Decliners beat advancers 2-1, that's a down day. Wholesale prices of 3.2% touched off inflation fears partially overshadowing a strong (3.2%) increase in retail sales last month. Banks rebounded in the last hour reducing their losses but were typically still down about 1%. Honeywell, a Dow company, was up 3 after an optimistic outlook for next year.

Credit crunch seems to be one long word these days, there are still plenty of problems out there. Housing remains soggy. But the markets aren't ready to test the low end of the trading range (13-14K) they've been in since July.

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