Wednesday, November 4th, 2009

Market Wrap-Up for November 4, 2009

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Market Wrap-Up for November 4, 2009

Pacer International, Inc. (PACR), Kraft Foods Inc. (KFT), and Ambac Financial Group, Inc. (ABK) are today’s featured stocks as the markets erased their gains for the day.

Featured Story Stocks

Market Summary

U.S. markets erased most of their gains for the day and ended mixed following volatile swings due to the FOMC release. The Dow Jones Industrial Average jumped 0.31%, the Nasdaq dropped 0.09%, and the S&P 500 increased 0.1% on the session. Meanwhile, 10 year Treasuries increased to 3.546% on the day’s session.

Commodities saw marginal gains during the session due to weakness in the U.S. dollar after the FOMC release. Both gold and silver futures pulled back late in the session, but they recovered late in the session following the FOMC release. Gold futures in particular hit a pit session high of $1,090 per ounce following demand from India’s Central Bank.

Canadian and Latin American markets ended largely higher on the day. Argentina’s MerVal rose 1.53%, Brazil’s Bovespa rose 2.03%, Canada’s TSX rose 0.23%, and the Mexican IPC rose 1.92% on the session.

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-- Written by David Breen

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