Independent, Fee-Only Financial Advisor
Monday, December 06, 2010
Stocks were a mixed bag today as investors, subdued by Ben Bernanke's tepid economic outlook, paused after last week's climb. Telecommunications stocks strengthened, boosted by a 6.4% gain for Sprint Nextel. Sprint surged after announcing plans to simplify its network equipment, cutting billions of dollars in cost. However, financial stocks decined after Nomura said that one or more U.S. credit-rating firms could downgrade some large U.S. banks and brokers in early 2011 as they start rating banks in the wake of new regulations and less government support. DJIA -19.90 Nasdaq +3.46 S&P 500 -1.59.