Wall Street ends flat; Dow, S&P close at fresh 15-mth highs
Published on Tue, Jan 12, 2010 at 07:28 | Source : Moneycontrol.com
Updated at Tue, Jan 12, 2010 at 08:08
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Wall Street ends flat; Dow, S&P close at fresh 15-mth highs
It was a lackluster trading session for US markets, but the Dow and the S&P 500 closed at fresh 15-month highs as shares of big manufacturers advanced on strong Chinese economic data. The Nasdaq fell as tech shares succumbed to profit-taking.
It was a lackluster trading session for US markets, but the Dow and the S&P 500 closed at fresh 15-month highs as shares of big manufacturers advanced on strong Chinese economic data. The Nasdaq fell as tech shares succumbed to profit-taking. Also Read - How ADRs performed
The Dow was up 45.80 points, or 0.4%, to 10,663.99. The S&P 500 index added 2 points, or 0.2%, to 1,146.98, while the Nasdaq was down 4.76 points, or 0.2%, to 2,312.41.
Earnings season kicked off with Alcoa reporting numbers after the bell. The aluminum giant reversed a loss from a year earlier, but still reported earnings that fell well short of Wall Street's estimates. The CBOE index continued to plunge, falling more than 3%.
In Forex markets, the dollar is trading near a three-week low against the euro on comments from a Federal Reserve official that US interest rates should stay low for some time. The dollar index is trading at around 77.
Crude prices pared gains after hitting a fresh 15-month high. Weather forecasters said the worst of the cold spell, which swept across the United States and helped support energy prices over the last two weeks, was nearly over.
Copper rose as imports of the metal into China climbed for a second month. The metal advanced more than a percent. In other metals aluminum, tin and zinc also rose.