Market Watch 09/17/2009

The weather is sunny in here.

 

Today, stocks slip as investors take break from rally.

 

Stocks posted modest losses in quiet trading Thursday after a three-day advance.

 

The Labor Department said workers filing for jobless claims for the first time dripped to 545,000 last week from an upwardly 557,000 the previous week.

It was the lowest level of new claims since early July, indicating job cuts could be easing. However, those continuing to file for claims came in just above analysts' forecasts at 6.2 million. Many economists consider unemployment to be the biggest obstacle to a rebound in the economy.

The Dow Jones industrial average fell 7.79, or 0.1 percent, to 9,783.92. The S&P 500 index fell 3.27, or 0.3 percent, to 1,065.49, and the Nasdaq composite index fell 6.40, or 0.3 percent, to 2,126.75.

The dollar was mixed against other currencies, while gold prices fell.

Crude oil fell 3 cents to settle at $72.47 per barrel on the New York Mercantile Exchange.

 

Some analysis said this market has become kind of saturated with good news.

Still expects stocks will push higher but a break is necessary.