Tulsa World: Brighter economic forecast stems losses on stock market

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Brighter economic forecast stems losses on stock market

By Staff and Wire Reports
Published: 11/25/2009 4:51 AM
Last Modified: 11/25/2009 4:51 AM

A brighter economic forecast from the Federal Reserve helped the stock market pare steep losses that followed uninspiring reports on consumer sentiment and housing.

Stocks slipped from 13-month highs in light trading Tuesday as gains in health care companies helped offset drops in financial and industrial stocks. The Dow Jones industrial average fell 17 points a day after jumping by 133.

The Dow ended down 17.24, or 0.2 percent, to 10,433.71 after falling as much as 91 points. The Standard & Poor's 500 index fell 0.59, or 0.1 percent, to 1,105.65, while the Nasdaq composite index fell 6.83, or 0.3 percent, to 2,169.18.

Oil prices fell to around $76 a barrel Tuesday with new data showing a slow U.S. economic recovery and consumer confidence that remains lukewarm at best.

Benchmark crude for December delivery fell $1.54 to settle at $76.02 a barrel on the New York Mercantile Exchange.

By Staff and Wire Reports

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