Market Watch 09/09/2009

Today, the weather is sunny in here.
Today 's date is 09/09/2009, some people say that nine, nine, nine is just lucky all around :-)

The stock market extended its gains to a forth day as the Fedearl Reserve said the economy was stabilizing.

The market stumbled briefly following the release of the Fed's report on regional economies, which also found that consumer spending would rise but only because of car purchase linked to the government's brief Cash for Clunkers program. The report said the job market remains weak.

The Dow rose 49.88, or 0.5 percent, to 9547.22. The broader Standard & Poor's 500 index gained 7.98, or 0.8 percent, to 1033.37, while the Nasdaq composite rose 22.62, or 1.1 percent , to 2060.39.

Economists warn the expansion is fragile and will have staying power only if consumers start spending more money. Rising unemployment that keeps Americans cautious could make for a plodding recovery in the months ahead.

The Labor Department will report on Thursday (tomorrow) the number of new jobless claims filed last week, which could indicate whether the incipient recovery is slowing the pace of layoffs.