Market Watch 12/17/2009

Stock Market Closing Prices – 12/17/09

Dow Jones Industrial Average ( DJIA ) Close – 10308.26 -132.86
Nasdaq Stock Market Close – 2180.05 -26.86
S&P 500 Close – 1096.08 -13.10

Commodities Closing Prices – 12/17/09

Gold Close – 1108.70 +1.90
Oil Close – 72.96 +0.31

A stronger dollar and disappointing corporate news muscled stocks lower Thursday over concerns that the economy will struggle to recover.

The dollar climbed to a three-month high against the euro, a sign investors were seeking safety. Investor confidence was further sapped as Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans and a forecast from FedEx Corp. fell short of expectations.

More downbeat news came in on the economy as the government reported an unexpected rise in unemployment claims. The number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week.

Stocks could get a boost Friday from BlackBerry maker Research In Motion Ltd. and software company Oracle Corp., which each posted quarterly profits after the closing bell Thursday that topped expectations.