Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, March 29, 2010

Monday

Surging oil prices drove energy stocks higher, leading the broader market to a modest gain tempered by weakness among bank shares. The financial sector's main stumbling block was a 3% slide in Citigroup after the government unveiled a plan to sell 7.7 billion shares in the bank. The latest economic data were mostly promising, though many traders stayed on the sidelines ahead of Friday's jobs report, which analysts expect to show the first monthly gain in employment since the U.S. recession began more than two years ago. In other markets, the dollar suffered against the euro as traders grew more confident in Greece's ability to set its finances straight. Also, the pound gained today, while the yen declined. DJIA +45.50 Nasdaq +9.23 S&P 500 +6.63.