U.S. stocks decline as corporate earnings lower-than-expected

Source: Dukascopy Bank SA
U.S. shares slumped on Thursday, halting their two-day advance this week, as companies reported lower-than-expected profits and European policy makers said the common currency's advance could slow down the economic recovery in Euro-area. The Dow Jones Industrial Average decreased 0.3%, or 42.47 points, to 13,944.05.All but two groups in the benchmark index edged lower with technology sector tumbling the most by 0.7%. Exxon Mobil Corporation paired biggest losses as its shares slumped as much as 1.72%, triggering a 1.2% decline in the oil and gas sector. The largest oil company in the world by its market value is currently planning to spend around $300 million on a pilot project with Rosneft. Among worst performers were Caterpillar Inc. and Hewlett-Packard Co that eased 1.63% and 1.50%, respectively, to drag down the industrial and technology shares. Alongside to that, financial stocks posted biggest gains lifted by American Express Co that added as much as 2.61% to $62.14. Furthermore, Coca-Cola rose 1.57% to $38.91 leading gains in the consumer goods group that was 0.52% higher, while Boeing Co climbed 1.5% to $77.43 capping further losses in industrial shares. According to NTSB's findings Boeing might need to redesign the battery of its 787 Dreamliner.
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Fri, 08 Feb 2013 11:19:03 GMT

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Fri, 08 Feb 2013 10:57:07 GMT

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