Wednesday, January 14, 2009

US markets end mixed; Dow down 25 pts while Asian markets trading firm; Nikkei advances

US markets ended flat as earnings concerns hovered. Exonn Mobil, Chevron and JPMorgan were biggest gainers on Dow Jones while Alcoa, General Electric and Bank of America were the biggest losers.

Alcoa tumbled 5.1% after reporting a wider-than-estimated loss, and a job cut announcement. Financials gained as Bernanke stated that more capital injections and guarantees may become necessary while Obama urged congress to release remaining $ 350 billion TARP fund.

In economic news, trade deficit shrank nearly 29% in November, the biggest contraction in 12 years.

Dow slipped 25.41 points, or 0.30%, to 8,448.56. The S&P 500 index rose 1.53 points, or 0.18%, to 871.79, while the Nasdaq composite index gained 7.67 points, or 0.50%, to 1,546.46.


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