Wall Street Scores Weekly Gains
On Friday, stocks ended their first positive week in four with a down day as investors were reluctant to buy going into a long weekend, with uncertainty still swirling around Europe.
An S&P index of industrial shares .GSPI ranked among the biggest losers of S&P while weakness in large-cap tech stocks like Google Inc (GOOG.O) kept the Nasdaq in negative territory. Greece warnings kept investors in a cautious mood as did Spain after Standard & Poor's downgraded five banks.
A bullish read on U.S. consumer sentiment kept pessimism in check.
"The market is drifting and cautious ahead of the (Memorial Day) holiday. There's no consistency, though we do seem to be digging in after some bad weeks," said Donald Selkin, chief market strategist at National Securities in New York, which has about $3 billion in assets under management.
"Still we have the overhang of Europe, and just have to hope things don't get worse over there."
The Dow Jones industrial average .DJI fell 74.92 points, or 0.60 percent, to 12,454.83 at the close. The Standard & Poor's 500 Index .SPX dipped 2.86 points, or 0.22 percent, to 1,317.82. The Nasdaq Composite Index .IXIC was down 1.85 points, or 0.07 percent, at 2,837.53.
- Forex's blog
- Login or register to post comments
Forex Blog
- New Law Passed By Greece To Spur The Greek parliament has approved a legislation to boost private investment, a key condition to get the crisis-struck country out of its worst-ever peacetime recession. Read More >
- Five-Year Plan Outlined By Sherbank To The largest bank of Russia has outlined a plan to investors under which the bank, Sberbank, is planning to enhance efficiency while sustaining profits over a period of five years, according to a... Read More >
- Winning Streak Of Dow Ends On Friday, Wall Street stocks fell as a drop in JPMorgan Chase led to the end of the 10-day rally of Dow Jones industrial average while the United States dollar retreated from a high of seven months... Read More >
- European Shares Dip On Italy Concerns On Monday, European shares edged away from 4 ½ -year highs as weak economic data from China and concerns about Italy undermined the optimism that was generated by the strong U.S. jobs numbers last... Read More >
- Asian Shares On A Steady Pace On Monday, Asian shares and the euro were steady but trading remained subdued with some Asian markets, including Australia and Hong Kong, and Europe still closed for Easter holidays. Asian shares on... Read More >
- India's Fiscal Budget Positive For In a report, Moody's Investor's Service said the budget of India for the next fiscal year offers a "realistic" plan to meet the country's fiscal deficit target, and should be a credit positive for... Read More >
About FXP |
Social |
Website |
Facebook
Twitter
Delicious
Stumbleupon
Plurk
Friendfeed
Reddit
Pinterest
Slideshare
Scribd
Docstoc
Tumblr
Disclosure & disclaimer : information available on this site is for informational purposes only and not to be constructed as specific trading advice. Responsibility for trade decisions is solely with the reader.
This material may not be published, broadcast, rewritten or redistributed, unless authorized by the editor. It,s Ratings accepts no liability for the comments content.
The authors of the commentaries are made responsible for their contents.
© 2006-2010 Forex Broker Rating - Top Rated Forex Brokers
They would be good only if
They would be good only if sustained for long.