wall street slumps after stellar year
Last Updated : GMT 02:06:48
Arab Today, arab today
Arab Today, arab today

Wall Street slumps after stellar year

Arab Today, arab today

Arab Today, arab today Wall Street slumps after stellar year

New York - XINHUA

US stocks pulled back Thursday to start a New Year trading following a banner year of 2013, although the country's economic data was encouraging. The blue-chip Dow Jones Industrial Average slid 135.31 points, or 0.82 percent, to 16,441.35. The S&P 500 plunged 16.38 points, or 0.89 percent, to 1,831.98. The Nasdaq Composite Index slipped 33.52 points, or 0.80 percent, to 4,143.07. The market retreat came on the heels of a broad drop in European and Chinese equities markets Thursday, ushering in the New Year. The market marked the first drop in the first trading day of a year since 2008. The first week of 2014 should really set the tone for year, and really for the first month, said Mark Newton, chief technical analyst at Greywolf Execution Partners Inc., noting that it's almost 80 percent correlation how the year does historically. "So that will be interesting to see, because it's very very overbought," he told Xinhua several days earlier, a little bit pessimistic on the stock market this year following a stellar year in 2013. However, most traders still insisted on their bullish opinion on the stock market in 2014, as the fundamentals are considered to be strengthening. They also thought a pullback is healthy for stocks. In the past year, the Dow was up 26.5 percent, its best yearly gain since 1995, while the broader S&P 500 surged 29.6 percent, its best year since 1997. The tech-heavy Nasdaq notched a 38.3- percent gain last year, the biggest since 2009. On the economic data, the number of Americans who initially applied for jobless benefits in the week ending Dec. 28 dropped 2, 000 to 339,000 from the previous week's upwardly revised figure of 341,000, said the Labor Department Thursday. Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, registering 57, the second highest reading for 2013, according to the Institute for Supply Management, a global supply management association. Separately, business conditions in the U.S. manufacturing sector continued to improve in December, financial data firm Markit reported Thursday. U.S. construction spending in November also rose 1.0 percent from the preceding month, the Department of Commerce announced Thursday.

arabstoday
arabstoday

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings
Arab Today, arab today
Arab Today, arab today

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*

wall street slumps after stellar year wall street slumps after stellar year

 



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*

wall street slumps after stellar year wall street slumps after stellar year

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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