Stock Market Closing Prices – 12/16/09

Dow Jones Industrial Average ( DJIA ) Close – 10441.12 -10.88
Nasdaq Stock Market Close – 2206.91 +5.86
S&P 500 Close – 1109.18 +1.25

Commodities Closing Prices – 12/16/09

Gold Close – 1133.50 -2.00
Oil Close – 72.42 -0.24

The economy is growing, but only weakly. Layoffs have slowed, yet jobs remain scarce. And interest rates will need to rise - but not anytime soon.

That was the mixed picture sketched Wednesday by the Federal Reserve, which pledged to hold rates at a record low to reduce unemployment and sustain the recovery. And the assessment was reinforced by government data on inflation, home building and U.S. trade.

Ben Bernanke and his colleagues did sound a more optimistic note by pointing to the slowdown in job losses. But they made clear the recovery is far from strong: Consumer spending remains sluggish, the job market weak, wage growth slight and credit tight. Companies are still wary of hiring, they said.

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Stocks stall as Fed prepares to remove aid
Investors knew several of the programs would be dismantled in 2010, but the added detail about the Fed's plans as well as lingering concerns about inflation tugged at the market. Stocks finished little changed.