Dow Jones index inched up on positive current account data

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Source: Dukascopy Bank SA

The Dow Jones Industrial Index edged higher by 0.09% to close at 13,564.64 on news that the US current account deficit narrowed more than expected in Q2. However, weak manufacturing state in the US and lingering concerns over spreading debt crisis in Eurozone weighted down on the US blue chips. A half of the business sectors included in the index advanced. Consumer goods and telecommunications were the best-performers, climbing 0.64% and 0.47%. Kraft Foods and Coca-Cola rose 1.76% and 0.70% while Verizon Communications and AT&T moved higher by 0.74% and 0.16%. Sending the index lower, basic materials and financials lost 0.83% and 0.30%. El du Pont de Nemours and Alcoa dropped 0.81% and 0.94% while Bank of America and American Express plunged 0.75% and 0.86%.

 

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