Thursday, the US stock market managed to recover most of its losses and ended around unchanged mark backed by the better than expected weekly jobless claims data that did little to overshadow the disappointing retail results. Further the investors eyed ahead of tomorrow''s unemployment report.
The retailing giant Wal Mart reported disappointing retail results as its December same-store sales increased by a less-than-expected 1.7%. Further the company lowers fourth quarter outlook, which now ranges from $0.91 to $0.94 per share. Wall Street was expecting $1.06 per share for the quarter. Further, Majority of retailers report raft of weak December same-store sales results.
On the economic front, the latest weekly jobless claims report showed results better than expected. Initial claims for the ended Jan. 3 totaled 467,000, down 24,000 from the prior week.
The Dow Jones Industrial Average (DJIA) dropped by 27.24 points to close at 8,742.46. The NASDAQ Composite (RIXF) index increased by 17.95 points to close at 1,617.01 and the S&P 500 (SPX) grew 3.08 points to close at 909.73.
Among the Dow’s 30 components, 16 of its components ended in green mainly led by the stocks like Alcoa, Microsoft and Du Pont up by 4.32%, 3.13% and 1.29% respectively. Howver, General Motors, JP Morgan Chase and Bank of America led the Dow’s declining stocks down by 2.18%, 3.10% and 1.24% respectively.
A total of more than 0.7 billion shares were traded on the NASDAQ, and advancers outpaced the decliners stocks by 8 to 5. On the New York Stock Exchange around 1.2 billion shares traded for the day, with advancing stocks outpaced the declining stocks by 3 to 2.
Crude oil futures for the month of February delivery fell by $0.93 to $41.70 per barrel on New York Mercantile Exchange. The crude futures fell to an intraday low to $40.54 per barrel. The crude futures for a third straight session on the back of deepening economic concern in the country that will further reduced the energy demand
The retailing giant Wal Mart reported disappointing retail results as its December same-store sales increased by a less-than-expected 1.7%. Further the company lowers fourth quarter outlook, which now ranges from $0.91 to $0.94 per share. Wall Street was expecting $1.06 per share for the quarter. Further, Majority of retailers report raft of weak December same-store sales results.
On the economic front, the latest weekly jobless claims report showed results better than expected. Initial claims for the ended Jan. 3 totaled 467,000, down 24,000 from the prior week.
The Dow Jones Industrial Average (DJIA) dropped by 27.24 points to close at 8,742.46. The NASDAQ Composite (RIXF) index increased by 17.95 points to close at 1,617.01 and the S&P 500 (SPX) grew 3.08 points to close at 909.73.
Among the Dow’s 30 components, 16 of its components ended in green mainly led by the stocks like Alcoa, Microsoft and Du Pont up by 4.32%, 3.13% and 1.29% respectively. Howver, General Motors, JP Morgan Chase and Bank of America led the Dow’s declining stocks down by 2.18%, 3.10% and 1.24% respectively.
A total of more than 0.7 billion shares were traded on the NASDAQ, and advancers outpaced the decliners stocks by 8 to 5. On the New York Stock Exchange around 1.2 billion shares traded for the day, with advancing stocks outpaced the declining stocks by 3 to 2.
Crude oil futures for the month of February delivery fell by $0.93 to $41.70 per barrel on New York Mercantile Exchange. The crude futures fell to an intraday low to $40.54 per barrel. The crude futures for a third straight session on the back of deepening economic concern in the country that will further reduced the energy demand
No comments:
Post a Comment