Thursday's session on the New York stock exchange ended with declines in major indices. At the close the Dow Jones Industrial fell by 0.12 percent, the Nasdaq Comp. went down by 0.44 percent and the S&P 500 fell by 0.19 percent. Thus, there is a clear hesitation of the demand when indices are confronted with round levels (DJIA with 20,000 pts., S&P500 with 2300 points and the Nasdaq Composite with 5500 points).

For most markets Friday will be the last session before Christmas, after which most stock markets will close for three days.

On the Warsaw market yesterday ending of the session was dominated by news that the government may move towards partial nationalization of the funds accumulated in open pension funds (i.e. 25%). The market took this statement with increases in stock prices, however, there are still only vague plans and declarations.

Nevertheless this information should help stabilize the market at the end of the year and foster confrontation the WIG20 index with 2000 points level.