Investors weigh worries about Spain downgrade with upbeat U.S. inflation data
December 15th, 2010
08:24 PM ET

Investors weigh worries about Spain downgrade with upbeat U.S. inflation data

A look at highlights from the day's business news headlines:

Stocks drift as markets shrug off Spain

December has been a good month for U.S. stocks, so this week's lackluster action isn't upsetting investors much. Stocks have managed to eke out gains over the past few sessions and are up 5% for the month.

On Wednesday, the Dow Jones industrial average lost 19 points to end 0.2% lower at 11,457.47. The S&P 500 shed 6 points, or 0.5%, and the Nasdaq fell 11 points, or 0.4%.

Unless there's some major news to drive investors to the sidelines, it looks like all three major indexes will see double-digit percentage gains for the year. In Wednesday's session, investors weighed worries about a possible Spain downgrade with relatively upbeat U.S. inflation data.

Commodities take a breather

Commodity prices continue to ease this week, as the dollar gains some strength and investors focused on signs of economic improvement.

A stronger dollar can weigh on commodities like gold, silver and oil because they're priced in the U.S. currency. Worries about inflation had been pressuring the greenback and sending commodities into rally mode.

Gold rallied to a new record high above $1,400 an ounce shortly before this week's Federal Reserve meeting.

Following the Fed's decision to keep interest rates near 0%, gold eased and is currently trading at $1,388 an ounce. Silver prices, which have been drawing more attention than gold lately, also headed lower, sliding nearly 2% to $29.29 an ounce.

–CNNMoney.com reporters Julianne Pepitone and Laurie Segall contributed to this report.

Post by:
Filed under: Economy
soundoff (5 Responses)
  1. Jim the Honest fixed income trader

    Thanks for my 1.2 Billion dollar bonus check this year.
    All I do is sit back with my feet up. Bark orders into the phone.
    Now I know some of you wage slaves work a little bit each day.
    And I know 9.25 an Hour might not allow you to live like me. However it is true you can live very comfortably on wages so generous.

    December 16, 2010 at 3:30 am | Report abuse |
  2. Jim the Honest fixed income trader

    And if you read the papers you would Know that Goldman Sachs is the best place to work on wall street.
    So if you actually have to work,you know, make things, sweat, bust your knuckles, stand for 12 hrs, bend, stoop, twist, climb, lift 100 pounds frequently. Or do anything even remotely useful; It is your own fault.

    December 16, 2010 at 3:39 am | Report abuse |
  3. Jim the Honest fixed income trader

    Don't think I won't advocate whole heartedly and voiciferously for you poor b as'ta/rds.
    After all you have dedicated you life to the service of my wealth and leisure.
    After I have discussed how much of the trillions in corporate profit we will need to control the next election I will put a compationate, cry baby republican to work finding you some more crap jobs.
    First though we have to do some back room finagling (CSing) with these 20 CEO's in town.

    December 16, 2010 at 3:52 am | Report abuse |
  4. marcus lipschitz

    Although the house is now republican controlled, the economy is getting back into shape and full employment should soon follow. the indicators look good. we have to take one day at a time. god bless america.

    December 16, 2010 at 5:01 am | Report abuse |
  5. Cesar

    We don't have inflation. McDonald's still has the dollar menu.

    December 16, 2010 at 6:52 am | Report abuse |