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MONDAY, NOVEMBER 23, 2009
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Drugs, Oil Push Dow Up 50

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(Newser) – Financials dipped today as firms continued stock sell-offs to finance TARP repayments, but strong performance by drug and energy companies stabilized the market, the Wall Street Journal reports. Merck and Pfizer were up as much as 2% and 6%, respectively; oil got a boost from $60 barrels. The Dow was up 50.34 to 8,469.11. The S&P fell 0.89 to 908.35 on bank concerns; the Nasdaq lost 15.32, ending at 1,715.92.

A trader works on the floor of the New York Stock Exchange.
A trader works on the floor of the New York Stock Exchange.   (AP Photo)
Drugs from Roche.
Drugs from Roche.   (AP Photo)
Merck & Co. headquarters is seen in Whitehouse Station, N.J.
Merck & Co. headquarters is seen in Whitehouse Station, N.J.   (AP Photo)
Pfizer world headquarters in New York.
Pfizer world headquarters in New York.   (AP Photo)
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What the market is telling us is that we're taking a depression-type scenario off the table and factoring in something that resembles a more normal recession.
- Bill Jacques, Martingale Asset Management

The fact that we're getting less-bad readings is an important first step. I expect that to continue in the various releases that we're going to see in the near future, except in anything related to jobs. - Jim Glassman, of J.P. Morgan Chase

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OFF THE GRID
11.23.09
Books Are Bad for You
11.20.09
The Health-Care Wars Have Just Begun
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