Treasury prices fall, stocks end flat as holiday weekend begins
December 23rd, 2010
08:08 PM ET

Treasury prices fall, stocks end flat as holiday weekend begins

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

Stocks take early vacation, end flat 
U.S. stocks ended a strong week on a quiet note Thursday, as mixed economic data kept investors from jumping in ahead of a long holiday weekend.

The Dow Jones industrial average edged up 14 points, or 0.1%; the S&P 500 fell 2 points, or 0.2%; and the Nasdaq slipped 6 points, or 0.2%. The three major indexes were about 1% higher for the week.

On Wednesday, stocks ended at fresh two-year highs as oil prices topped $90 a barrel.

Reports Thursday showed jobless claims barely budging, new home sales rising slightly and personal income and spending ticking higher.

But Wall Street was relatively unfazed by the data, with stocks hovering near the break-even point for most of the session. Many investors have already left their desks for the holidays, and U.S. markets will be closed Friday for the holiday weekend.

Treasury prices fall after economic data dump 
Treasury prices drifted lower Thursday as the holiday-shortened trading week was capped by a wave of economic reports.

The yield on the benchmark 10-year note increased to 3.39%. The 30-year bond yield ticked up to 4.47%. Meanwhile, the yield on the 2-year note increased to 0.66%, and the 5-year note pushed up to 2.05%. Treasury prices and yields move in opposite directions.

Before the opening bell, the Commerce Department reported that personal income rose 0.3% and personal spending rose 0.4% in November. The results were mixed, compared to expectations.

Meanwhile, the Department of Labor announced that initial jobless claims fell 3,000 to 420,000 in the week ended Dec. 18. Claims were expected to have edged up to 424,000.

Slightly worse than expected reports on durable goods orders and new home sales added to what investors had to sort through.

- reporters Blake Ellis and Charles Riley contributed to this report.

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Filed under: Economy
soundoff (14 Responses)
  1. gracewynn

    The market rates may have gone down, or remained the same. For the homeowner to get qualified for lower rates, there are certain prerequisites but I would recommend you search online for "123 Mortgage Refinance" before you decide because they can find the 3% refinance rates.

    December 24, 2010 at 12:23 am | Report abuse |
  2. Jim Brieske

    We will have a $100+ a barrel of oil soon. We need rid of Obama ASAP. What a fukhead.

    December 24, 2010 at 5:31 am | Report abuse |
  3. Jim Brieske

    Someone please assassinate Barack Obama.

    December 24, 2010 at 5:33 am | Report abuse |
  4. Cesar

    @Jim B. Leave Obama alone. He allowed the legislative branch of government to extend GW's tax breaks for the rich, and was part of DADT. It's 2010, open the gay gate, they're coming in Jim, and we can't stop them.

    December 24, 2010 at 7:37 am | Report abuse |
  5. GaGa

    Cesar..just like we can't stop idiots like you from posting on these boards.

    December 24, 2010 at 10:48 am | Report abuse |
  6. Cesar

    GaGa??!! Can I have your autograph??

    December 24, 2010 at 12:33 pm | Report abuse |
  7. Cesar

    @GaGa: I sense you're in a mood. What's your e-mail, baby.

    December 24, 2010 at 5:22 pm | Report abuse |
  8. chrissy

    well of course wall street didnt react in a positive manner! they know the american public is just being handed a load of crap. and for you narrow minded fools if you used your god given brain you would know Obama didnt create this mess it just was dumpd

    December 24, 2010 at 10:23 pm | Report abuse |
  9. chrissy

    on him while the congress and senate sit on their fat collective asses doin nuthin unless corporate fools say so. also how much blame should go to americas dumbest president ever. and we just sit here do nuthin and let it happen. other countries revolt

    December 24, 2010 at 10:34 pm | Report abuse |
  10. mr. America

    wow... Good news makes the n.r.a. People So nervous... Wonder why?

    December 25, 2010 at 12:14 am | Report abuse |
  11. mr. America

    its the end of tea party and victim american bull... Thats why

    December 25, 2010 at 12:16 am | Report abuse |
  12. Jim Brieske

    mr.America. You are a fuking moron. Go fuk yourself, you low I.Q.d piece of garbage.
    And change your name. You know nothing about America. Except that you are a stupid liberal fuk who needs his a/ss kicked.
    Oh since you love Obama so much, let me tell you an Elite secret. He is not being reelected. Republican and Democrat Elite have agreed. He can not handle the job. He is dangerous and if he doesn't go quietly, he will have his head blown off.

    December 25, 2010 at 2:29 am | Report abuse |
  13. Cesar

    GAGA you are a fkn moron. Go fk yourself

    December 25, 2010 at 6:34 am | Report abuse |
  14. Jim Brieske

    Cesar. I think I am starting to rub off on you Cesar. Maybe we should call a truce in the spirit of Christmas.

    December 25, 2010 at 7:27 am | Report abuse |