US mkts end flat amid narrow range of trade

The US markets end flat amid narrow range of trade; the Dow Jones Industrial Average was down 11 points at 10,426.

By Varinder Bansal, Research Analyst at CNBC-TV18

The US markets end flat amid narrow range of trade; the Dow Jones Industrial Average was down 11 points at 10,426. The S&P 500 Index ended flat at 1,110 and the Nasdaq Composite was down 10.6 points at 2,193.

Asian markets openrf mixed; Kospi weas up 1%, Straits Times up 0.9%, Shanghai up 0.3% and Taiwan up 0.1%. However, Hang Seng was down 0.4% and Nikkei down 1%.

European markets ended flat. The CAC was down 0.02%, DAX up 0.16% and FTSE down 0.07%. CBOE VIX was down 3.5% at 21.63.

US stocks in news

Bank of America was up 3.7%, as hedge fund billionaire John Paulson said the stock could double in two years.

Colgate was up 3.7%, as buzz was that Reckitt Benckiser may be considering a bid for Colgate.

AMD rose 10.6% after the company announced a private debt offering of $500 million.

Analog Devices was up 10.5%, as Goldman Sachs put on conviction buys list.

Global M&S

Dry Shippers: Excel Maritime was up 14.3%, Eagle Bulk up 10.8%, Diana Shipping up 4.6% and Euroseas up 12.3%. However, Mercator Lines Singapore was down 1.3%.

Indian ADRs; ICICI Bank was down 2.2% and HDFC Bank down 1.9%.

US Economic News

US housing starts fell 10.6% in October, at lowest level in six months.

US consumer prices for October increased 0.3% (expected 0.2% increase).

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