Arab Today, arab today us stocks fall after weak gdp data
Last Updated : GMT 00:43:29
Arab Today, arab today
Arab Today, arab today

US stocks fall after weak GDP data

Arab Today, arab today

Arab Today, arab today US stocks fall after weak GDP data

New York - AFP

US stocks closed modestly lower Wednesday after data showed the economy unexpectedly shrank in the fourth quarter last year and the Federal Reserve maintained its loose monetary policy. The Dow Jones Industrial Average dropped 44.77 points (0.32 percent) to 13,909.65. The S&P 500-stock index shed 5.95 points (0.39 percent) at 1,501.89, while the tech-rich Nasdaq Composite fell 10.94 points (0.35 percent) to 3,142.72. \"Equities began the day on a mixed note, but the slightly bearish bias which persisted throughout the day caused the major averages to end near their lows,\" Briefing.com analysts said in a client note. Before the opening bell, the Commerce Department reported the US economy shrank at an annual rate of 0.1 percent in the 2012 fourth quarter. Hours later, the Federal Reserve, wrapping up a two-day policy meeting, dismissed the contraction as \"transitory\", noting the economy had \"paused\" in recent months. The Fed stayed the course on its ultra-loose monetary policy as expected, saying growth should be moderate moving head. \"Today was far from a normal Fed-day as the FOMC announcement followed a GDP release that was negative for the first time in 13 consecutive quarters,\" said Jon Ogg of 24/7WallSt.com. On the Dow, ExxonMobil and General Electric shed 1.2 percent, Alcoa lost 0.9 percent and 3M was down almost 1.0 percent. Boeing led the small pack of blue-chip gainers, rising 1.3 percent. The aerospace giant reported a sharp fall in fourth-quarter earnings, as expected, and put fixing the battery problem that led to the global grounding of its 787 Dreamliner as its first priority for 2013. Canadian-based Research in Motion slumped 12.0 percent after launching its new BlackBerry smartphone and announcing it would change its corporate name to BlackBerry. Amazon jumped 4.8 percent after the online retailer late Tuesday posted quarterly earnings that showed wider margins. Facebook rose 1.5 percent ahead of its fourth-quarter results released after the markets closed. Shares were down nearly three percent after the social network giant reported a dive in fourth-quarter profit from a year ago, to $64 million. Natural-gas producer Chesapeake Energy surged 6.0 percent after the company announced that its embattled chief executive Aubrey McClendon would retire. Bond prices fell. The yield on the 10-year US Treasury rose to 2.01 percent from 1.99 percent late Tuesday, while the yield on the 30-year bond increased to 3.20 percent from 3.17 percent. Bond prices and yields move inversely.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks fall after weak gdp data Arab Today, arab today us stocks fall after weak gdp data

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday