Arab Today, arab today wall street continues to pause after selloff
Last Updated : GMT 12:33:12
Arab Today, arab today
Arab Today, arab today

Wall Street continues to pause after selloff

Arab Today, arab today

Arab Today, arab today Wall Street continues to pause after selloff

New York - XINHUA

US stocks turned mixed Friday following Thursday's selloff, as investors were still waiting to see more signs that whether the market could keep its upward momentum after a blockbuster year. In midday trading, the Dow Jones Industrial Average gained 8.43 points, or 0.05 percent, to 16,449.78. The S&P 500 shed 2.12 points, or 0.12 percent, to 1,829.86. The Nasdaq Composite Index slipped 17.60 points, or 0.42 percent, to 4,125.47. The major indices opened slightly higher on the heels of a mixed picture of overseas stock markets, but started to dive heading into midday. European stocks saw across-the-broad gains Friday, rebounding from a decline in the previous trading session, while Asian stocks closed in negative territory generally, dampened by a slowing in China's services sector growth in December. The U.S. equity market suffered a selloff Thursday, the first trading day of 2014, after marking a banner year in 2013, with major indices dipping the most in over a decade. It seemed that the rift is widening between bulls and bears over whether Wall Street is able to continue its impressive performance when entering its sixth year in a bull cycle since 2009. Volume is likely to be low in a holiday shortened week, as well as with a massive blizzard in the northeast of the United States, which would amplify market volatility. With major economic data absent, investors are expected to hear speeches from Fed Governor Jeremy Stein, Philadelphia Fed President Charles Plosser and Richmond Fed President Jeffrey Lacker later in the day. Ben Bernanke, who is going to step down by the end of January after his eight-year tenure as the U.S. central bank chief, is due to deliver a speech on the changing Fed at the American Economic Association at 2:30 p.m. local time. In corporate news, shares of Ford Motor advanced after posting a December sales gain, while shares of General Motors slumped on a drop in its sales in December.

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