Mortgage interest rates crept up for the fourth week in a row Thursday, a troubling sign for borrowers hoping that home finance will remain near historic lows during the new year.

The rate on a 30-year fixed loan rose to 5.14 percent, from recent lows below 5 percent, the Mortgage-industry giant Freddie Mac reported. The cost of adjustable-rate home loans also edged up in the report, the final weekly survey of the year.

"[Mortgages] still remain affordable by historical standards,” said Frank Nothaft, Freddie Mac vice president and chief economist.

But some analysts worry that uptick in recent weeks may portend a continued rise toward 6 percent in the new year. While that still would not be high by historical standards, that would dampen the buying power of home shoppers at a time when the housing market is still struggling to recover.

Where mortgage rates head from here, by affecting the health of the housing market, will also affect the tone of economic recovery in 2010.

Even higher rates ahead?In recent months, demand for homes has strengthened and recession-linked declines in home prices have stopped. Government tax incentives for first-time buyers have helped fuel housing demand, and the Federal Reserve has helped to keep interest rates low by buying up mortgage-securities. (The Fed&&9;s demand for mortgage-based bonds is essentially pumping money into the market for housing finance, making it easier for lenders to provide credit.)

Both those forces appear set to retreat during 2010. The tax breaks are slated to end by midyear. And – in a move that&&9;s potentially important for interest rates – the Fed has said it will stop buying mortgage bonds within about three months loan until payday.

The lower interest rates remain, the more buyers can afford to spend when they commit to spending perhaps 30 percent of their income to buy a house. If interest rates rise, it could put downward pressure on home prices, unless the interest-rate rise is offset by rising incomes.

Still a good deal historicallyIn releasing the numbers Thursday, Mr. Nothaft gave an example of how low rates have been helping home buyers this year. “Based on today&&9;s median loan amount of $138,000, monthly principal and interest payments for a 30-year fixed-rate mortgage are close to one-third less than a decade ago when rates peaked at 8.6 percent in May 2000."

The rate on a 30-year loan ends the year not far from where it stood a year ago, at 5.10 percent.

Along with official interest rates, another key barometer of the housing market will whether bank lending standards get looser or not. A good interest rate only helps if borrowers can get a loan approval, and lending conditions now are tight. It&&9;s a delicate balancing act.

President Obama recently said he wants to make sure regulators get the message to banks that credit should flow to worthy borrowers. But with foreclosures expected to run high in the new year, the banks and regulators are also trying to make sure that they don&&9;t dig deeper into a hole of bad loans.

-----

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Mortgage interest rates rise, set to climb higher in 2010

WASHINGTON (Reuters) &<51; An American trade panel gave final approval Wednesday for duties of 10 to 16 percent on Chinese-made steel pipe in the biggest United States trade case to date against China.

The International Trade Commission voted 6-0 in favor of the duties set by the Commerce Department to offset Chinese government subsidies.

The United States imported $2.74 billion of the &S220;oil country tubular goods&S221; from China in 2008, more than triple the previous year, as a surge in oil prices led to increased demand for the oil well pipe.

The vote caps a year of United States-China trade friction.

American companies and unions brought about a dozen trade cases against China in 2009, citing government subsidies and unfair pricing practices.

President Obama also angered Beijing in September by slapping a 35-percent duty on imports of about $1.85 billion of Chinese-made tires in response to what the trade commission said was a market-disrupting surge.

China, in response, has accused the United States of protectionism, filed a complaint against the tires decision at the World Trade Organization and began an inquiry into whether American-made autos were being &S220;dumped&S221; in China at unfairly low prices fast cash without a hassle.

The United Steelworkers union, which was the driving force behind the tires case, joined with the Maverick Tube Corporation, the United States Steel Corporation and other American manufacturers in asking for import duties on Chinese-made pipe.

The vote Wednesday clears the way for the Commerce Department to impose final countervailing duties ranging from 10.36 percent to 15.78 percent on the pipe to offset Chinese government subsidies, as announced on November 24.

The Commerce Department has also announced preliminary anti-dumping duties ranging up to 99 percent on the pipe and is expected to announce its final decision on the size of those additional duties in early April.

That would set the stage for a second trade commission vote, expected in May, on whether to allow those additional duties.

Trade Panel Backs Duties on Chinese Steel Pipe

Hot News: China Starts to Lift Region’s Web Blackout

Home prices rose modestly in October, thanks to a flood of buyers seeking to take advantage of the government&S217;s offer of a tax credit, data released Tuesday showed.

The Standard &&8; Poor&S217;s/Case-Shiller home price index, a closely watched measure of the housing markets in 20 metropolitan areas, rose 0.4 percent from September on a seasonally adjusted basis. It was the fifth consecutive month that prices were up.

Underneath this apparent good news were some disquieting signs of deterioration, however.

Seasonal adjustments tend to hide any weakness in the cooler months, when fewer houses are sold. On an unadjusted basis, the index was flat in October.

&S220;We&S217;ve started to see the possibility of either a leveling off of prices for a few months or perhaps a double-dip,&S221; said Maureen Maitland, the vice president for index services at S emergency payday loan.&&8; P.

The Case-Shiller index is down 7.3 percent from October a year ago.

Prices fell or were flat in nine of the 20 cities surveyed in October, the same as in September. But the recovery is beginning to diverge sharply by metro area, Wells Fargo chief economist John Silvia noted.

In the last three months, prices in San Francisco increased at a 25 percent annual rate while Minneapolis was up 17 percent and Los Angeles rose 11 percent. Phoenix, long a laggard, rose 13 percent.

But New York, Portland and Boston were up less than 2 percent.

Home Prices Rose Slightly in October

NEW YORK (Reuters) – Stock index futures indicated a flat to higher open on Monday, with investors wary of taking risky bets into year-end.

Retail stocks could see support after U.S. retailers posted a better performance during the 2009 holiday shopping season, with sales up 3.6 percent, as tracked by MasterCard Advisors unit SpendingPulse.

Airline stocks may be in the spotlight as the United States tightened airline security amid growing questions about how a Nigerian man with alleged ties to militants smuggled explosives aboard a transatlantic flight and attempted to blow up the plane.

With the S&P 500 nearly 25 percent higher for the year, investors are keen to hold on to profits. U.S. stocks rallied in a shortened preholiday session Thursday, closing at 2009 highs. Markets were closed Friday for the Christmas holiday, and Monday&&9;s volume will likely be light as many traders take off the week between Christmas and New Year&&9;s.

S&P 500 futures rose 0.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract default payday loan. Dow Jones industrial average futures added 4 points, and the Nasdaq 100 futures gained 4.25 points.

Kraft Foods Inc (KFT.N) will be in focus as Italian chocolate major Ferrero is still examining its options on a possible bid for Britain&&9;s Cadbury PLC (CBRY.L). The UK confectioner has rejected a &&6;16.2 billion offer from Kraft. U.S.-based Hershey Co (HSY.N) and the family-owned Ferrero have said they were contemplating bids.

European stocks rose for a fifth straight session on Monday, adding to gains before the Christmas break, as an overnight rally in Asian shares boosted sentiment, but volumes were thin with London markets closed.

Oil hit a four-week high above &&6;78 a barrel as colder weather across the U.S. and fresh signs of an economic recovery helped boost the outlook for fuel demand.

(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)

Stock futures edge up as investors eye year-end

Hot News: China urged to keep policies flexible

ABU DHABI (Reuters) – A South Korean consortium has won a &&6;40-billion contract to build several nuclear reactors for the United Arab Emirates, industry sources said on Sunday.

The consortium would build the first nuclear power plants in the Gulf Arab region under the deal, one of the largest energy contracts ever awarded in the Middle East and also one of the world&&9;s biggest nuclear power plant deals.

"We&&9;ve won," said one industry source. "We&&9;re not sure about the exact figure but I think it&&9;s around &&6;40 billion."

South Korean President Lee Myung-bak was expected to sign the deal with UAE President Sheikh Khalifa bin Zayed al-Nahayan later on Sunday, sources said.

The consortium includes Korea Electric Power Corp. (KEPCO) (015760.KS), Hyundai Engineering and Construction (000720.KS), Samsung C&T Corp (000830.KS) and Doosan Heavy Industries

(034020.KS).

The South Korean group beat a French consortium and another group of companies from the United States and Japan.

Nascent nuclear programs in the Middle East, including in Saudi Arabia and Egypt, have fueled concerns of a regional arms race.

But the UAE has pledged to import the fuel it needs for reactors rather than attempting to enrich uranium, the fuel for nuclear power plants one hour payday loan. Uranium further refined can be used to make nuclear bombs, and taking enrichment out of the nuclear program reduces the possibility of weapons development.

Work on the first nuclear plant in the Gulf Arab region was expected to begin in 2012.

The UAE is the world&&9;s third-largest oil exporter and is looking to nuclear power to meet rapidly rising electricity consumption. Petrodollar-fueled economic growth has left the Gulf Arab state struggling to meet domestic power demand.

Abu Dhabi is driving the UAE nuclear program. The emirate holds most of the UAE&&9;s crude reserves, and has managed to avoid the worst of the global economic slowdown as well as the debt crisis that has hit neighboring emirate Dubai.

The UAE plans to build three or four nuclear reactors in a first fleet to help meet an expected rise in power demand to 40,000 megawatts in 2020 from around 15,000 MW last year.

(Reporting by Amena Bakr, Writing by Simon Webb; Editing by Amran Abocar and Sugita Katyal)

S.Korean consortium wins UAE nuclear deal: sources

NEW YORK – The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac.

The Treasury Department said Thursday it removed the $400 billion financial cap it will provide to keep the companies from failing. Already, taxpayers have shelled out $111 billion to the pair.

Treasury Department officials said the $400 billion limit would be replaced with a flexible formula to ensure the two agencies can stand behind the billions of dollars in mortgage-backed securities they sell to investors.

Fannie Mae and Freddie Mac provide vital liquidity to the mortgage industry by purchasing home loans from lenders and selling them to investors. Together, they own or guarantee almost 31 million home loans worth about $5.5 trillion, or about half of all mortgages.

Without government aid, the firms would have gone broke, leaving millions of people unable to get a mortgage.

The biggest headwind facing the housing recovery has been the rise in foreclosures as unemployment remains high. The Treasury's latest move could allow Fannie and Freddie to play a bigger role in restructuring mortgages for troubled borrowers.

The news follows the announcement Thursday that Fannie's and Freddie's chief executives could get paid as much as $6 million for 2009, despite the companies' dismal performances this year.

Fannie's CEO, Michael Williams, and Freddie CEO Charles "Ed" Haldeman Jr. each will receive $900,000 in salary, $3.1 million in deferred payments next year and another $2 million if they meet certain performance goals, according to filings with the Securities and Exchange Commission.

The pay packages were approved by the Treasury Department and the Federal Housing Finance Agency, which regulates Fannie and Freddie.

That pay is far less than what their predecessors earned. Former Fannie CEO Daniel Mudd received $10.2 million in 2008 and former Freddie CEO Richard Syron pocketed $13.1 million. Both execs were ousted when federal regulators seized the companies in September 2008. The federal government blocked exit packages for the pair worth up to $24 million.

The chief executives' pay could spark new criticism about the government's numerous bailouts, but that may be unfounded, said Mark Borges, principal with management consulting firm Compensia.

Haldeman and Williams each could command between $5 million and $10 million in a similar position in the private sector, Borges estimated, and without the notable challenges and public scrutiny they face at these companies.

"I doubt too many people would look at these jobs and say, 'Gosh, I would love to go there for my next career move,'" Borges said instant payday loans. "The government is getting top notch executives to solve problems that are not easy to solve."

The bulk of their pay is also not guaranteed, Borges said, so these executives can't pocket and run and must meet certain long-term goals or risk giving some of it back.

Freddie Mac's board sets the performance goals for the chief executive, which won't be disclosed until next year. Fannie Mae's filing outlined its corporate goals including "being a recognized leader in the housing recovery," "protecting taxpayers," and "managing risk more effectively."

Fannie Mae and Freddie Mac declined to offer further details on CEO performance goals.

Public anger over Wall Street pay boiled over earlier this year. In response, the Obama administration imposed pay curbs on banks that received government bailouts. All the major banks have since repaid their federal money, largely to escape caps on executive pay.

Former Bank of America Corp. CEO Ken Lewis, for example, agreed to forgo his salary and bonus this year under pressure from the government. Last year, he pocketed more than $9 million in total compensation. Bank of America received $45 billion in government assistance, which it has since repaid.

Freddie Mac hired Haldeman, a former mutual fund executive, in July. At the time, the company disclosed his annual salary of $900,000 but did not disclose other incentive payments. In September, the company hired a new chief financial officer, Ross Kari, and said his pay package would be worth up to $5.5 million.

Williams, formerly Fannie Mae's chief operating officer, took over as CEO in April after the first government-appointed CEO, Herbert Allison, took a job at the Treasury Department. Williams earned a base salary of $676,000 last year, plus a retention award of $260,000.

Washington-based Fannie Mae was created in 1938 in the aftermath of the Great Depression. It was privatized 30 years later to limit budget deficits during the Vietnam War. In 1970, the government formed its sibling and competitor McLean, Va.-based Freddie Mac.

Though the Obama administration has yet to divulge its long-term plans for the two companies, they are unlikely to return to their former power and influence.

___

AP Real Estate Reporter Alan Zibel in Washington contributed to this report.

Treasury removes cap for Fannie and Freddie aid

Hot News: MGIC shares drop after lawsuit disclosure

Homeowners often complain of projects that cost more than estimated, delays, low-quality workmanship, miscommunications, and outright scams, all of which can pack a wallop to your wallet.

While due diligence isn&&9;t a guarantee that your home repair experience will be stress-free, it&&9;s the best way to protect yourself from these nightmares.

Perhaps a friend or neighbor recommended a repair person, or maybe you found one via an online forum or in the phone book. Remember that a recommendation is just the first step in securing reputable help. Do be sure that you also keep these important things in mind:

1. Ask the service professional you are considering to provide references. You&&9;ll want to contact at least two other sources who can confirm a job well done.

2. Make sure whoever you hire has adequate insurance (both general liability and worker&&9;s compensation) to cover any mishaps in your home. Otherwise you may be liable for the coverage if the unthinkable happens.

3. Check to see that your prospective contractor has professional credentials and affiliations. A contractor who is affiliated with organizations in his or her field is more likely to stay abreast of new developments in their area of expertise, as well as having access to the professional resources available to members. Your job is safer in the hands of someone who is in the field as a career, rather than simply trying out a new sideline.

Often, you&&9;ll see the words "licensed, bonded, and insured" in advertisements for home fix-it professionals. Licensing refers to a professional registration with a governing body (like a state) that typically requires the contractor to adhere to certain standards business cards. If a contractor is bonded, it means he or she has set aside funds in an account that is secured by the state; these funds are made available should a consumer win a claim against a company. And again, insurance is an important safeguard for your protection (as well as the company&&9;s) should anything go terribly wrong.

4. Find a home pro who accepts credit cards. Paying by credit card affords you much greater protection than cash or check in case you are dissatisfied with a job.

5. Get it all in writing. Make sure your estimate details each part of the work to be done, what kind/quality of materials will be used, who is responsible for supplying the materials, and a comprehensive cost breakdown so you can see exactly for what services you&&9;ll be paying.

6. Reward longevity. Many years in the business means that many more previous customers you can contact for a recommendation.

Of course, no one can guarantee that the home repairs you hire out will be problem-free, but taking these steps is as close as you can get to ensuring quality workmanship. That&&9;s peace of mind you can take all the way to the bank.

For more Foolishness:

What Will Be the Best Stock for 2010?The Greatest Stocks of the Next GenerationBuy These Stocks Before Wall Street Catches On

How to Hire Reputable Contractors

LONDON (MarketWatch) -- British stocks tentatively built on recent gains in a holiday-shortened trading session on Thursday, with miners advancing amid higher commodity prices

The U.K. FTSE 100 index rose 0.1%, or 5.22 points, to 5,377.60.

The British stock market and selected Continental equity markets close early on Thursday for the Christmas break. Shares trading in Europe on Thursday were also in a tight range. See Europe Markets.

U.S. stock futures were pointing to mild gains on Wall Street.

The FTSE 100 index ended 0.8% higher on Wednesday, with the move bringing gains made in the first three sessions of the week to 3.4% and year-to-date gains to 21.2%.

The index is almost back at its 2009 closing high of 5,382.67, hit on Nov. 16.

Miners have performed strongly this year and were higher again on Thursday, with BHP Billiton shares up 1 low cost payday loans.4% and Anglo American shares up 1.2%.

Silver miner Fresnillo gained 2.6% and copper miner Kazakhmys advanced 1.2%.

The gains for the sector came as metal futures advanced, with gold futures up $10.10 at $1,104.20 an ounce. Light sweet crude oil futures were up 18 cents at $76.85 a barrel in electronic trading and sterling traded up 0.2% at $1.5993 against the dollar.

Still, gains for the top London index were kept in check by losses for some banks and insurance companies.

RSA Insurance Group shares were down 1.4% and shares of banking giant HSBC Holdings lost 0.7%.

London Markets: British stocks gain for fourth straight session

SAN FRANCISCO (MarketWatch) -- Bernard Madoff, the man behind the biggest Ponzi scheme in history, has been moved to a medical facility at the federal prison complex where he's serving a 150-year sentence.

Madoff, 71, was in a medium-security facility of the Butner Federal Correctional Complex in Butner, North Carolina. However, on Dec. 18 he was moved to Butner Federal Medical Center, part of the prison complex that houses male inmates of all security levels, Traci Billingsley, a spokeswoman at Federal Bureau of Prisons, said in an email to MarketWatch.

It's not clear why Madoff was moved infra red heaters.

"The potential reasons for an inmate's transfer are numerous and we don't release those specific reasons," Billingsley said.

Ira Sorkin, Madoff's lawyer, didn't immediately respond to phone calls and emails seeking comment on Wednesday afternoon.

Madoff pleaded guilty earlier this year to running a Ponzi scheme that left investors with tens of billions of dollars in losses. He was sentenced to 150 years in prison in June.

Madoff moved to prison medical facility

SEATTLE (AP) &<51; A federal appeals court upheld a lower court ruling on Tuesday and ordered Microsoft to stop selling its Word program in January and pay a Canadian software company $290 million for violating a patent,.

But Microsoft expects the decision to have little impact on Word or Microsoft&S217;s Office package in the United States. Microsoft said Tuesday that new versions of the product, with the computer code in question removed, will be ready for sale when the injunction begins Jan. 11.

The case started in 2007 when the software company, i4i Inc. of Toronto, sued Microsoft, saying it owned the technology behind a tool in the popular word processing program. The technology gives Word users an improved way to edit XML, or code that tells the program how to interpret and display a document&S217;s contents.

A Texas jury found that Microsoft Word willfully infringed on the patent. Microsoft appealed that decision, but the United States Court of Appeals for the Federal Circuit upheld the lower court&S217;s damage award and the injunction against future sales of infringing copies of Word guaranteed payday loans.

A founder and co-inventor of i4i, Michel Vulpe, said in a statement that the company was pleased with the decision, calling it &S220;an important step in protecting the property rights of small inventors.&S221;

Microsoft said it has been preparing for such a judgment since August. Copies of Word and Office sold before Jan. 11 are not affected by the court&S217;s decision. And Microsoft said it had &S220;put the wheels in motion to remove this little-used feature&S221; from versions of Word 2007 and Office 2007 that would be sold after that date.

The company said however, that it might appeal further, asking for either a rehearing in front of the appeals court&S217;s full panel of judges or in front of the Supreme Court.

Court Upholds Patent Ruling Against Microsoft

WASHINGTON (MarketWatch) -- A razor-thin procedural vote in the Senate advancing a sweeping health-care bill was a "big victory" for Americans, President Barack Obama said Monday, as senators were on track to pass the White House-backed overhaul later this week.

Senators voted 60-40 at 1:16 a.m. Eastern to move on the bill, the first of three procedural votes before a final vote that could come on Christmas Eve.

The 60 votes were the minimum needed for passage. Not a single Republican voted for the bill. More procedural votes are scheduled for early Tuesday morning.

"The United States Senate knocked down a filibuster aimed at blocking a final vote on health-care reform, and scored a big victory for the American people," Obama said Monday morning. "The Senate has moved us closer to reform that makes a tremendous difference for families, for seniors, for businesses, and for the country as a whole," he added.

Shares of health insurers rallied on Monday following the early-morning vote. Read story about health-insurance stocks.

The Senate's bill is the most sweeping piece of health-care legislation in a generation and would extend insurance coverage to about 30 million Americans. It would raise taxes on medical-device makers and cut payments to providers of Medicare.

Senate Majority Leader Harry Reid, D-Nev., said Democrats aren't over the finish line but "never have we been so close" to overhauling the U.S. health-care system.

Senate passes health bill

The health bill narrowly passed the Senate last night, setting up a Christmas Eve signing by the White House. The News Hub panel discusses what this means for consumers.

Republicans, who had called for the bill to be read on the floor in its entirety, maintain that the legislation will jack up premiums and health-care costs. Read more MarketWatch health-care reform coverage.

"A top-down bureaucratic government-run health-care system that will cost nearly a trillion dollars is not what the American people want," said Republican National Committee Chairman Michael Steele in a statement at about 1:30 a.m.

"If the liberals in Congress don't understand this by now, they will when the voters give them a pink slip in 2010," he added.

The legislation will cost $871 billion over 10 years, according to an estimate issued by the Congressional Budget Office instant personal loans guaranteed. Read CBO analysis of health bill.

It creates insurance exchanges, or marketplaces, where the uninsured and small businesses will be able to shop for coverage. The bill also requires most Americans to buy health insurance or pay a fine, and forces employers with more than 50 workers to offer health insurance or pay a fine. For the first time, insurers would be barred from denying coverage to sick people. Read text of bill and summaries.

Doctors applauded the Senate bill but health insurers gave it a mixed review.

"All Americans deserve affordable, high-quality health coverage so they can get the medical care they need -- and this bill advances many of our priority issues for achieving the vision of a health system that works for patients and physicians," said Cecil Wilson, the president-elect of the American Medical Association.

Wilson said the doctors' group was pleased the bill increases payments to primary care doctors and general surgeons in underserved areas but doesn't cut payments to other physicians.

"While the bill makes important improvements in access and takes steps towards cost-containment, it lacks accountability to ensure that costs are brought under control," said Karen Ignagni, president and CEO of America's Health Insurance Plans, on Saturday.

If the Senate bill passes, it will need to be reconciled with the House's version, a more-liberal measure that contains a strong government-run health insurance option. That health plan, though, will almost certainly be left out of the final bill that makes it to Obama's desk for signature.

The Senate bill passed only after the government-run option was substituted with a plan for private insurance plans to be overseen by the government's Office of Personnel Management.

The bill is paid for with taxes on high-value insurance plans, Medicare and industries including medical-device manufacturers. It would also cut $480 billion from Medicare over 10 years, though Democrats say basic benefits won't be touched.

Health-care vote 'big victory,' Obama says

CHANGSHA, Dec. 17 (Xinhua) -- Chinese Vice Premier Wang Qishan said China would deepen the reform of its rural credit cooperatives in order to better serve the farmers and rural economic growth.

He made the remarks during his inspection tour in central China's Hunan Province from Wednesday to Thursday

Wang said the reform and development of the rural credit cooperatives was of major importance to the financial systems in the country's rural areas and concerning the general well-being of farmers bad credit auto loans.

In China, Rural Credit Cooperatives are regional rural cooperative financial institutions formed by share-holding partners, different from the large banks whose customers are mainly in cities. They are major sources of agricultural loans.

China to deepen reform of rural credit cooperatives: vice premier

Hot News: RIM profit, outlook top forecasts, shares surge

NEW YORK (Reuters) – Stocks finished flat to slightly higher on Wednesday after the Federal Reserve reiterated its intention to keep interest rates low for the foreseeable future to ensure a sustainable economic recovery.

Wall Street trimmed gains after the Fed voted unanimously to keep benchmark borrowing costs in a range of zero to 0.25 percent, which represents historic lows.

The central bank&&9;s policy-making committee also reminded markets it will let most of the special liquidity facilities, which have helped bolster the U.S. banking system after last year&&9;s credit crisis, expire by early next year.

"The liquidity pullback, people are looking at it and saying we&&9;re not going to get that free run that we&&9;ve had in the stock market, we&&9;re not going to have all that free capital that we had previously," said Dan Cook, senior market analyst at IG Markets in Chicago.

"That will have people concerned, heading into the new year."

Financial stocks, which had initially climbed after sources said global banking regulators will give institutions a grace period before enforcing more stringent capital rules, also slipped after the Fed&&9;s statement.

The S&P Financial Index (.GSPF) rose 0.7 percent, retreating from earlier gains of more than 1 percent. JP Morgan Chase & Co (JPM.N), a Dow component and the second-largest U.S. bank, added 1.2 percent to &&6;41.36.

The Dow Jones industrial average (.DJI) slipped 10.88 points, or 0.10 percent, to end at 10,441.12. But the Standard & Poor&&9;s 500 Index (.SPX) gained 1.25 points, or 0.11 percent, to 1,109.18. The Nasdaq Composite Index (.IXIC) added 5.86 points, or 0.27 percent, to 2,206.91.

After the closing bell, Citigroup Inc (C.N) shares slid 3.5 percent to &&6;3.33 after CNBC reported the bank&&9;s equity offering had been priced at &&6;3.15 per share.

MILD CPI, HEALTHIER HOUSING DATA

Earlier in the session, data from the Labor Department showed the overall U.S. Consumer Price Index rose 0.4 percent in November, in line with expectations, which eased inflation worries and lifted stocks.

Home builders&&9; stocks climbed after Commerce Department data showed new U pay day advance.S. housing starts increased 8.9 percent in November, the largest monthly percentage gain since May, indicating the housing sector remains on a steady recovery path.

The Dow Jones U.S. Home Construction index (.DJUSHB) jumped 4.4 percent, led by KB Home (KBH.N), up 6 percent at &&6;13.59 on the New York Stock Exchange.

But after the closing bell, shares of Hovnanian Enterprises Inc (HOV.N) tumbled 13.2 percent to &&6;3.67 in extended trade after the No. 5 U.S. home builder posted a quarterly loss that was much bigger than Wall Street&&9;s expectations.

During the regular session, chipmaker Intel (INTC.O) slid 2.1 percent to &&6;19.38 on Nasdaq after the U.S. government accused the chipmaker of illegally using its market dominance to stifle competition.

Honeywell International Inc (HON.N), the largest maker of cockpit electronics, dropped 2.1 percent to &&6;40.37 after it forecast a drop of 13 percent to 21 percent in net profit next year. It was the biggest drag on the S&P Industrial index (.GSPI), which slipped 0.3 percent.

Investors, particularly those with significant holdings in banking stocks, also noted the news from Washington that two bills were introduced on Wednesday to reinstate the 1930s-era Glass-Steagall Act to split commercial and investment banking. The proposed legislation is part of an effort in Congress to curb Wall Street&&9;s excesses after last year&&9;s financial crisis and the meltdown in the stock market.

Volume was light on the New York Stock Exchange, with 1.16 billion shares changing hands, below last year&&9;s estimated daily average of 1.49 billion, while on the Nasdaq, about 2.11 billion shares traded, below last year&&9;s daily average of 2.28 billion.

Advancing stocks outnumbered declining ones on the NYSE by a ratio of about 2 to 1, while on the Nasdaq, about 15 stocks rose for every 11 that fell.

(Reporting by Chuck Mikolajczak; Additional reporting by Leah Schnurr; Editing by Jan Paschal)

Wall St ends flat to up a bit after Fed's statement

NEW YORK – The Nasdaq Stock Market on Monday said it will delist the stocks of three small companies: Teton Energy Corp., Altus Pharmaceuticals Inc., and UCBH Holdings Inc.

Nasdaq will file the necessary paperwork with the Securities and Exchange Commission to complete the delistings, which will become effective 10 days later. In all three cases, however, the stocks have already stopped trading on the Nasdaq.

Trading in Teton Energy, a Denver-based oil and gas exploration and production company, was suspended on Nov. 18.

The same day, trading was suspended for UCBH. The company's main subsidiary, United Commercial Bank, based in San Francisco, was closed by California regulators on Nov saving account payday loan. 6 and placed under receivership of the Federal Deposit Insurance Corporation. The deposits were assumed by East West Bank of Pasadena, Calif.

The stock of Altus Pharmaceuticals was suspended on Nov. 23. Altus is a Cambridge Mass.-based biotechnology company founded in 1993. The company is developing treatments for patients with chronic gastrointestinal and metabolic diseases.

Nasdaq to remove 3 companies from exchange

LONDON (Reuters) – Kraft Foods (KFT.N) said it would maintain a disciplined approach in its pursuit of British chocolatier Cadbury (CBRY.L) and believes the combination would provide meaningful revenue synergies and cost savings.

In a statement on Tuesday responding to Cadbury&&9;s defense document, Kraft said a combination with its British rival would "represent a uniquely complementary fit."

"We have heard nothing from Cadbury that surprises us," said Kraft Foods Chairman and CEO Irene Rosenfeld.

"Cadbury&&9;s defense document only reinforces our belief that there is a compelling strategic and financial rationale to combining these two companies and that doing so would be in the best interest of both companies&&9; shareholders," he added cash advance payday loans.

On Monday, Cadbury teased shareholders with the prospect of rival bids and promised bigger dividends and stronger growth as it again knocked back Kraft&&9;s hostile 10 billion pound (&&6;16.3 billion) offer.

Shares in Cadbury closed up 0.57 percent at 793 pence, compared to Kraft&&9;s hostile bid worth 729 pence. Many analysts believe Kraft will need to pay 820-850 pence to win Cadbury.

(Reporting by Matt Scuffham; Editing by Victoria Bryan)

(&&6;1=.6140 Pound)

Kraft pledges discipline in Cadbury pursuit