The market finished the final session of the week in a mixed fashion. Both the Dow and the S&P 500 extended their winning streak to three sessions. Better-than-expected retailer report was the main reason behind today’s strength. Sales in November increased 1.3%, much better than the 0.6% increase expected. Excluding autos, retail sales rose 1.2%, also better than 0.4% expected. Separately, consumer sentiment for December came in at 73.4 compared to 68.8 expected. For the second time in a row, the US dollar moved higher and didn’t bring down equity prices.  

Most major sectors finished the session higher led by utilities and consumer discretionary. The CRB commodity index rose 0.5%. The US dollar was higher against most major currencies. Treasury yields moved higher. The three-month US LIBOR was unchanged at 25 bps. The VIX index dropped less than 1 point. The market breath was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

The market rose again on Thursday and the S&P 500 retook the 1100 level. Unlike previous few weeks, a strong dollar didn’t prevent stocks moving higher this time. The economic news was mixed for the session. Initial jobless claims totaled 474K, worse than the 455K expected. Continuing claims dropped to 5.16 million from 5.46 million. The trade deficit for October, on the other hand, came in at $32.9 billion, better than the $36.8 billion deficit expected. In other financial news, Treasury Secretary Geithner appeared before the Congress to make a case for extending the $700 billion TARP plan. He stated that TARP will help the US maintain the capacity to address potential threats to its financial system and decrease the need for future intervention.

Most major sectors finished the session higher led by consumer discretionary and health care. The CRB commodity index rose 0.7%. The US dollar was higher against most major currencies. Treasury yields moved higher. The three-month US LIBOR dipped 1 bps to 25 bps. The VIX index dropped less than 1 point. The market breath was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

The market rose modestly on Wednesday. The dollar continued to play an important role in determining the direction of the equity prices. Earlier, the dollar moved higher as Standard & Poor’s revised its outlook for Spain to negative from stable. The revision came a day after Greece’s credit rating was cut by Fitch and Moody’s. In other financial news, the US government indicated that it is not yet ready to leave the financial system completely to itself and the $700 billion financial bailout plan, TARP, will likely be extended until October 2010.

Most major sectors finished the session higher led by technology and materials. The CRB commodity index declined 1.5%. The US dollar was mixed against most major currencies. Treasury yields moved higher. The three-month US LIBOR was unchanged at 26 bps. The VIX index dropped more than 1 point. The market breath was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

The market closed the Tuesday lower across the broad. Cautionary comments about the US debt rating and strength in the dollar were cited as the main reasons behind today’s weakness. Moody’s Investors Service believes the US and UK need to trim their respective deficits in order to help protect against a downgrade from their AAA ratings. Meanwhile, Fitch downgraded Greece’s A-rated status. A rise in the dollar weighed heavily on commodity-related shares.

All 10 major sectors finished the session lower led by energy and materials. The CRB commodity index declined 0.8%. The US dollar was higher against most major currencies. Treasury yields lower. The three-month US LIBOR was unchanged at 26 bps. The VIX index rose more than 1 point. The market breath was negative on both NYSE and Nasdaq. The volume was heavier compared to the previous session.

The market started the week in a mixed fashion. All three major indexed moved in a narrow range during the day. In front of the Economic Club of Washington, Fed Chairman Bernanke indicated that FOMC will keep the interest rate low for an extended period of time, which is consistent with Fed’s previous statement. The US dollar, after reaching one-month high last Friday, drew back a bit. The equity market responded to the change in a reverse way. There is little economic news today. Consumer credit declined $3.5 billion in October, far less than the expected figure of $9.4 billion. This is also the ninth consecutive decline during the months. Separately, the Wall Street Journal reported that the total cost of TARP could be cut by $200 billion.

Most sectors finished the session barely moved. The CRB commodity index had little change. Commodity price showed a mixed trend. Gold price lost 0.5% and settled at $1164 per ounce while crude oil declined 2% to $73.94 per barrel. However, natural gas surged 8.7% to $4.98 per contact. The US dollar was lower against most major currencies. Treasuries move up with the yield decreased. The three-month US LIBOR was unchanged at 26bps. The VIX index increased less than 1 point. The market breath was neutral on both NYSE and Nasdaq. The volume was on the light side.