Market Reflections 3/20/2009

Friday was a quiet day of profit taking in the stock market especially in bank stocks which have soared the past two weeks. The S&P 500 lost 2% to 768.54. After suffering its worst losses in a generation following the Fed's big liquidity move on Wednesday, the dollar finally firmed, ending slightly higher at $1.3568 against the euro. Oil firmed slightly to end at $51.55 with gold little changed at $952.70.