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WMPT Nightly Business Report March 16, 2012

and tom hudson. soox ud good evening, everyone. my colleague, tom hudson is off tonight. the dow broke its winning streak after some disappointing economic news today. investors had been buying up stocks on a steady stream of upbeat news about the economy, but not today. inflation at the consumer level rose 4/10ths of a percent in february. high gasoline prices accounted for most of the increase. the biggest disappointment is a significant drop in consumer confidence. the university of michigan index in march fell to the lowest level this year. it s a sign that consumers are worried about high prices at the pump, and could scale back on spending. the major averages closed mixed. the blue chips lost 20. the nasdaq fell a point, and the s&p edged up a point. the dow rose almost two and a half percent on the week. the nasdaq gained over two percent, and the s&p 500 added 2.4% for the week. in the bond market it was the worst week since july. prices went down, and yields went up.

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