Citigroup stock back in focus for buying for wall street

Wall street recap for today. December 17, 2009. As I predicted we are seeing the stock market pull there is no real news to fuel a continuation of the recent bull market rally. Investors are on the sidelines waiting for earnings season in 2010.

Stock prices fell on Thursday at noon at the Stock Exchange in New York because of the rise of the dollar and disappointing corporate reports.

The Dow Jones fell 102.71 units (1%) to settle at 10,338.41 while the Standard & Poor's 500 fell 10.37 units (0.9%) to settle at 1098.81 and the Nasdaq fell 23, 18 units (1.1%) to 2183.73.

The yield on the benchmark 10-year Treasury fell from 3.60% to 3.50%.

The dollar rose 1.1% while gold fell.

Oil prices down $ 1.20 to $ 71.46 a barrel on the New York Mercantile Exchange.

Three stocks fell for every one that rose and volume totaled 800.4 million shares compared with 449.3 million at that point the previous day.

The Russell 2000 index of smaller companies fell 7.35 units (1.2%) to 603.86.

In overseas markets, Britain's FTSE 100 lost 1.9%, Germany's DAX was down 1%, the French CAC-40 dropped 1.2% and Japan's Nikkei fell 0.9%

Wall Street had a mixed close on Wednesday after the dollar received impetus from the Federal Reserve statement saying that the deterioration in the labor market is declining.

The dollar strengthened after the Fed decided to keep interest rates at a level "exceptionally low" for an "extended period", said while the economy has shown some signs of recovery. This created concerns about when the Fed changed its monetary policy for those wondering should i buy citigroup stock now or later.

A series of favorable economic data encouraged the market in the morning session.

According to the Department of Labor, the main consumer prices, excluding energy prices and food, remained firm after rising for 10 consecutive months, thus easing investor worries about inflation.

Meanwhile, the Commerce Department said new construction of housing units in the U.S. rose 8.9 percent in November to a seasonally adjusted figure of 574,000 units annually, a figure higher than expected by economists.

The Dow Jones Industrial Index lost 10.88 points, or 0.1 percent, to close at 10,441.12. Broader indexes were slightly higher. The Standard & Poor's 500 gained 71.25 points, or 0.11 percent, to close at 1109.18 and the Nasdaq gained 5.86, or 0.27 percent, to stand at 2206.91 points.

Profits returned to Wall Street in 2009, and collected signatures of 50,000 million dollars in the first nine months of the year, according to a report issued by the comptroller's office in New York.rompting others to buy citigroup stock to invest.

After suffering losses of 11,300 million dollars in 2007 and 42.600 million in 2008, gains on Wall Street have returned faster than expected p.

"The impact of recession on the city's income has not been as severe as indicated earlier projections," said state Comptroller Thomas P. DiNapoli. "But the city could end up losing more than 200,000 jobs."

Job losses continued hitting Wall Street, despite the return to profitability. Between November 2007 and October 2009, the Wall Street firms lost more than 29.300 jobs