  The expression for the spin susceptibility $\chi$ of degenerate quark matter
is derived with corrections upto $ {\cal O}(g^4\ln g^2)$. It is shown that at
low density, $\chi^{-1}$ changes sign and turns negative indicating a
ferromagnetic phase transition. To this order, we also calculate sound velocity
$c_1$ and incompressibility $K$ with arbitrary spin polarization. The estimated
values of $c_1$ and $K$ show that the equation of state of the polarized matter
is stiffer than the unpolarized one. Finally we determine the finite
temperature corrections to the exchange energy and derive corresponding results
for the spin susceptibility.
