Dow pared losses after positive US data

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Source: Dukascopy Bank SA
© Scanpix/AFP
US blue chips plunged further on Thursday amid on-going concerns over the US budget clashes. A leadership change in China coupled with recent growth forecast cuts in the eurozone also weighed on the market sentiment. However, Dow pared losses after encouraging data from the national economy. The Dow Jones Industrial Average Index lost 0.94% to close at 12,811.32. All but one sector included in the index sank. The only gainer was financial sector, with Bank of America adding 1.73%. On the downside, consumer goods and oil and gas sectors dropped 1.44% and 1.36%. Wal-Mart Stores inched down 0.86%, while Exxon Mobil and Chevron shed 1.21% and 1.47%, respectively. Meanwhile, Walt Disney moved lower by 0.08% despite upbeat quarterly results. The company announced a 14% increase in net income for the fourth fiscal quarter due to better ESPN and theme park's profits.


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Fri, 09 Nov 2012 13:50:25 GMT

Japanese shares dropped on US fiscal cliff, mixed China's numbers

Japanese shares fell on Friday amid US fiscal worries and mixed China's numbers. China's CPI unexpectedly dropped, while industrial production rose more-than-expected last month. On-going worries over indebted eurozone also weighted down on the Japan's stocks. The Nikkei 225 Index slid 0.90% to end the week at 8,757.60. All sectors within the index tumbled. On the upside, Nippon Telegraph and

Fri, 09 Nov 2012 13:28:25 GMT

US stocks plunged again on Thursday

US shares prolonged their slump on Thursday as fears over the US fiscal cliff continued to create a heavy pressure on riskier assets. Moreover, Chinese Communist Party Congress as well as concerns over the eurozone's economic instability added to losses of the equities. However, the downswing was limited by positive domestic data. US jobless claims dropped more than expected last

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