Dow moved lower after weak Chicago PMI data

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Source: Dukascopy Bank SA
© Scanpix/AFP
US blue chips traded in the red territory, after reopening from two day long closure in wake of Hurricane Sandy. Dow came under heavy pressure after Chicago PMI showed worse-than-expected improvement in October. However, encouraging headlines from the eurozone capped losses of the US blue chips. Greece finally agreed on its budget while Spanish PM said that the country needs EU help to meet its deficit targets. The Dow Jones Industrial Average Index lost 0.08% to close at 13,096.46. Only three in nine sectors included in the index moved higher. Technology and financials were the strongest sectors in the index. IBM and Microsoft climbed 0.65% and 1.15% while American Express and Bank of America added 0.39% and 2.19%. Meanwhile, Home Depot jumped 2.23% as the company successfully completed its merger with US Home Systems. On the downside, basic materials and health care plunged 1.37% and 0.47%. EI du Pont de Nemours and Alcoa slid 1.46% and 0.92% while Johnson & Johnson and Merck shed 0.11% and 1.13%.


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