S&P 500 Index

Source: Dukascopy Bank SA
© Dukascopy Bank SA
U.S. equities slid on Thursday on growing concerns that the Fed might reduce its growth-boosting activities. In addition, investors were disappointed by the lower-than-expected data on corporate profits. The S&P 500 dropped 0.6% to 1,502.42. All but one group in the benchmark index edged lower. Lyondellbasell Industries N.V., an independent chemical company, paired biggest loss in the gauge to drag down basic materials that were 1.1% lower. Cablevision Systems Corp. followed with a 4.1% decline on news the company will introduce an additional monthly fee to cover the soaring cost of sports. Pacific Gas & Electric Co. dipped 3.97% adding to losses in utilities that erased 0.5%. Among best performers were Safeway Inc. with a 14% rally, the biggest since 1990, after the grocery chain reported fourth quarter results that topped the estimates. J.C. Penney Co. climbed 6.74%, as the retailer received clearance from lenders to sell its preferred stock and permission to obtain $1.75 billion in loans. Kroger Company rose as much as 3.94% to close at $28.76.
© Dukascopy Bank SA
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Fri, 22 Feb 2013 19:20:03 GMT

Dow Jones Industrial Average

The Wall Street closed in red yesterday amid escalated worries that the Fed is considering stopping its bond-buying program sooner-than-expected. The Dow Jones Industrial Average skidded as much as 0.3%, or 46.92 points, to close at 13,880.62 on Thursday. All groups within the benchmark gauge declined. Technology shares edged lower, posting a 0.6% decrease. However, further losses were halted by

Fri, 22 Feb 2013 16:16:33 GMT

Unexpected gain in Italian retail sales

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