Wall Street posts best week since 2009

Reuters, Sunday 4 Dec 2011

Favourable US jobless date helped the market stay on course for best showing in almost three years

U.S. stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low.

The market shed most of the 1 per cent gains posted earlier in the session as traders booked profits after the S&P failed to break through technical resistance near its 200-day moving average.

Based on the latest available data, the Dow Jones industrial average was down 0.68 point, or 0.01 per cent, at 12,019.35. The Standard & Poor's 500 Index was down 0.30 point, or 0.02 per cent, at 1,244.28. The Nasdaq Composite Index was up 0.73 point, or 0.03 per cent, at 2,626.93.
 

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