Dow Jones Index slips on concerns about the automatic spending cuts

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Source: Dukascopy Bank SA
U.S. equities erased their gains in the last trading minutes prior to investors rebalancing of benchmark gauges. In addition, Senate rejected the plan for replacing sequester. The Dow Jones Industrial Average erased 0.2%, or 20.88 points, to 14,054.49, 1% down from its October record. Three out of nine sectors edged higher. Hewlett-Packard posted biggest gains in the index, as it rallied 1.9% to to close at $20.14 capping losses in technology shares that were 0.4%. El du Pont de Nemours & Co followed with a 0.8% surge. Coca-Cola Co was also among top performers with its shares soaring 0.7%. On the downside, Wal-Mart Stores that tumbled 1.2% and dragged down consumer services sector that was 0.1% lower on slowing sales growth, as the retailer currently struggles with keeping the shelves stocked. Furthermore, UnitedHealth Group Inc. eased 0.8% adding to losses in health care group that slid 0.5%.
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