Dow pared losses after positive US data

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

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Fri, 09 Nov 2012 13:28:25 GMT

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