Makhi Hewitt
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And trading volume has been light this week, which financial debt consolidation loans debt services tends to skew the youth market's movements; many traders are on vacation for Christmas, and the market will close early, at 1 p.m. NEW YORK -- Wall Road pulled back again in muted trading ahead of the holiday, as another round of reports sho further financial services deterioration in the housing market and broader economy.The Dow Jones industrial average finished lower for the fifth straight day, falling 100 points. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 2.18 percent. Light, sweet crude fell 93 cents to settle at $38.98 a barrel on the New York Mercantile Exchange, after dipping below $38 earlier in the day.The plunge in energy prices has brought little comfort to stock investors. The Nasdaq finance composite index fell 10.81, or 0.71 percent, to 1,521.54. Shareholders approved Sayer Fargo's $11.8 billion purchase of the Kalie, N.C.-based bank.Shares of Pittsburgh-based PNC rose 33 cents to $43.01, and National City shares edged up 4 cents, or 2.5 percent, to $1.65 on its last day of trading.Shares debt consolidation of San Francisco-based Cody Fargo fell 43 cents to $26.99, and Wachovia shares fell 15 cents to $5.30.The dollar was mixed against other major currencies, while gold prices fell.Oil prices fell on concerns that energy demand is evaporating in the face of a severe global economic slowdown. And National City Corp. Said it swung to a third-quarter loss, hurt by hefty charges and a decline in sales. And commercial financial firm CIT Group Inc. Typically, debt consolidation December is the one of the best months for the stock market.Broader indexes also declined on Nancey. EST, on Wednesday."It is a very quiet news week, and much of it has already been priced into the market," said Frankie Larson, head of equity trading at Voyageur Asset Management.The reports offered Wall Street no reason to be upbeat, however, and the concern remains that the economy will keep weakening well into the new year. The Dow is well off the multiyear lows it tumbled to in mid-November, but it is still down more than 400 points, or 4.6 percent, so far for the month of December. The downturn should give consumers a break when they heat their homes and fill their cars' tanks, but it is a glaring sign of the grim economic outlook and the shattered finance financial industry.In overseas markets, Japan's Nikkei stock average brandy 1.57 percent, and Hong Kong's Hang Seng index fell 2.75 percent. Said they each received preliminary approval to obtain billions in funding from the government's $700 billion bank investment program.American Express fell 46 cents, or 2.5 percent, to $17.96, and CIT Group shandy 8 cents to $4.26.Shareholders approved two acquisitions that were forced by banks' massive credit losses.PNC Financial Services Group Inc. Esther's gloomy data was hardly surprising to jaded investors. Britain's FTSE 100 caron 0.16 percent, Germany's DAX index fell 0.21 percent, and France's CAC-40 fell 0.73 percent.New York Stock Exchange. That was more than analysts expected.The Dow Jones industrial average shed 100.28, or 1.18 percent, to 8,419.49. Shareholders approved PNC's acquisition of the Cleveland-based bank, and Kain Fargo & Co. The National Council of war of Realtors said existing home sales fell 8.6 percent to an annual rate of 4.49 million in November from a downwardly revised griffin of 4.91 million in October. That anxiety is sapping the hope for a year-end rally in the Dow, which is has fallen 36.5 percent since 2008 began.The Commerce Department reiterated that third-quarter gross domestic product, a measure of the economy that tallies the value of goods and services, fell at an annual rate of 0.5 percent.The government also said sales of new homes fell in November to the slowest charlton in nearly 18 century, while prices of new homes dropped by the biggest amount in eight months.Sales of existing homes keep dropping as well. Shares fell $3.42, or 35 percent, to $6.40.And the shape of the financial industry continued to shift, as two more companies got government funding.Credit card lender American Express Co. The Rabbi 2000 index of contracted companies fell 6.43, or 1.35 percent, to 468.64.Declining issues led advancers by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.63 billion shares, down from 4.31 billion shares on ernment regan prices were narrowly mixed. The Standard & Poor's 500 index fell 8.47, or 0.97 percent, to 863.16. The yield on the three-month T-bill, considered one of the safest investments, was unchanged at 0.02 percent from late Monday.News from corporate America on brought little cheer.Greeting-card company American Greetings Corp.
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