Wall Street ends flat; Crude prices down nearly 3%
Published on Sat, Nov 21, 2009 at 08:53 | Source : Moneycontrol.com
Updated at Sat, Nov 21, 2009 at 09:15
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Wall Street ends flat; Crude prices down nearly 3%
The US markets ended flat with a positive bias after a rocky session as investors juggled a disappointing jobs report and some analyst upgrades. The Dow slipped 14.28 points, or 0.1%, to 10,318.16. Crude prices fell nearly 3% to below the USD 78 mark after US jobless rate jumped to a 26-year high.
The US markets ended flat with a positive bias after a rocky session as investors juggled a disappointing jobs report and some analyst upgrades. General Electric was the biggest gainer on the Dow, up 6.2%, after Oppenheimer and Bernstein, raised their ratings on the stock to outperform. Also Read - How ADRs performed
The Dow slipped 14.28 points, or 0.1%, to 10,318.16. The S&P 500 index was down 3.52 points, or 0.3%, to 1,091.38, while the Nasdaq Composite Index fell 10.78 points, or 0.5%, to 2,146.04.
However, for the week, the indices saw good gains--with all three the Dow, Nasdaq and S&P 500 up around 3%.
The economic data for the day came in worse than expected. The labor department said employers cut 190,000 jobs in October and the unemployment rate jumped to 10.2% its highest level in more than 26 years. In other data, wholesale inventories fell 0.9% in September and consumer borrowing fell by USD 14.8 billion in September.
Crude prices fell nearly 3% to below the USD 78 mark after US jobless rate jumped to a 26-year high.
In currencies, the dollar fell against the yen and the euro. The currency was decreased nearly 1% against the yen. The dollar index continued to trade below the 78 mark.
