Weekend Linkage – December 14, 2008

Dec 14, 2008 Sun

Market Recap

U.S. stock markets ended the week mixed after technology shares and surging commodity prices led both Nasdaq and S&P 500 higher, despite failed attempt on the Capitol Hill to rescue Detroit’s troubled automakers. Tech bellwethers such as Intel and Google surged after House Speaker Pelosi indicated that the U.S. House will act soon in January on President-elect Obama’s stimulus plan that will boost spending on technologies. At the same time, crude oil price increased more than 13% this week as traders speculated that OPEC may cut production soon to halt continuous price decline since July. As oil price recovered, so did energy stocks such as Exxon and ConocoPhillips.

For the week, the Dow Jones dropped 0.1% to 8,629.6, the S&P 500 increased 0.4% to 879.73 and the Nasdaq added 2.08% to 1540.72. Gold rallied 8.92% to end the week at $819.15 an ounce while silver also gained 8.57% to $10.20/ounce. Crude oil surged 13.4% to $46.28 a barrel.

Weekend Readings

Check out these articles from The Money Writers and beyond.

How to Take a Loss on an IRA @ My Dollar Plan

Asking for a Pay Raise – Ten Steps to a Salary Increase Next Year @ Money Smart Life

Do You Leave Cash Tips? @ Million Dollar Journey

More Bailouts… Are You Still Angry? @ Lazy Man and Money

Time is Running Out for Making 2008 Tax Deductions @ Generation X Finance

What To Do If Unable to Afford Home Heating Bills @ Frugal Dad

Debt Elimination Tips: How To Reduce Debt With These Do’s and Don’ts @ The Digerati Life

Use Your Words to Change Your Mind @ Brip Blap

The 50-50 Mutual Fund Rule @ Blueprint for Financial Prosperity

Historical Distribution of Annual US Market Returns From 1825-Present: How Bad Was 2008? @ My Money Blog