US blue chips inched up on positive consumer confidence data

Source: Dukascopy Bank SA
© Scanpix/AP
US blue chips edged higher on Friday on encouraging US numbers. US UoM consumer sentiment jumped to 83.1 on a seasonally adjusted basis in September compared to forecasts of reading of 78.0. However, persistent concerns over eurozone and profit warnings created heavy pressure on the US blue chips index. The Dow Jones Industrial Average Index added 0.02% to end the week at 13,328.85. Four in nine sectors included in the index rose.  The biggest gains poised technology firms and consumer services. Shares of Cisco Systems, Hewlett-Packard and Microsoft advanced 0.82%, 1.12% and 0.86%, respectively. On the downside were telecommunications and financials. AT&T and Verizon Communications tumbled 1.74% and 1.28% while Bank of America and American Express shed 2.36% and 0.99%. Oil and gas companies also retreated amid weak oil prices after the EIA warned that demand for crude oil may weaken after recent price's rally. Chevron and Exxon Mobil dropped 0.88% and 0.15%.
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