US blue chips finished in red on Friday

Source: Dukascopy Bank SA
© Scanpix/AFP
US blue chips were bearish on Friday as market players shunned risky assets amid lingering concerns that US lawmakers will not agree on next year's budget timely. At the same time, upbeat readings of core durable goods orders and personal spending for November restricted the downswing. The Dow Jones Industrial Average Index retreated 0.91% to end the session at 13,190.84. All industries slumped. The biggest losses posted consumer goods and oil and gas sectors. Shares of Procter & Gamble and Home Depot dropped 1.58% and 1.05%. At the same time, oil demand uncertainty continued to pressurize energy shares. Exxon Mobil and Chevron plunged 1.87% and 0.61%. Meanwhile, banks were mixed, with American Express gaining 0.44% and Bank of America and JPMorgan Chase & Co declining 2.00% and 1.19%. On the downside was also AT&T, losing 1.09%. The telecommunications company received an approval to acquire wireless airwaves licenses from Nextwave Wireless.

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