Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Hover in Red Territory, European Equities End Lower

Thursday, January 31, 2013 1:29 PM
U.S. stocks traded in red territory by midday trade on Thursday as some weaker than expected earnings from bigwigs such as United Parcel Service (NYSE: UPS) and Dow Chemical Company (NYSE: DOW) kept sentiment subdued notwithstanding some good better than expected economic indicators. At last check, the Dow Jones Industrial Average Index fell 0.22%; the NASDAQ Composite Index inched down 0.03%, while the S&P 500 Index lost0.22%. Shares of UPS fell nearly 1.75% on Thursday after the world’s largest packing shipping company provided downbeat outlook on fiscal 2013 while earnings in the fiscal fourth quarter missed Street’s forecast. Shares of Dow Chemical slumped almost 5% by midday trade after the company said that fiscal fourth-quarter losses widened due to huge restructuring charges and extremely volatile macroeconomic environment during the second half of 2012. Research in Motion Limited (NASDAQ: RIMM) plunged 6.59%, at last check, a day after the company unveiled its keenly anticipated operating system Blackberry10 or BB10 which works on its two generation next smartphones Blackberry Z10 and BlackberryQ10. The move is seen as a make or break by analysts. However, many experts doubt whether the new launch will make any difference for the beleaguered company. Analysts say that the move is very late considering the competitive landscape of smartphone market. WMS Industries (NYSE: WMS) rallied over 50% on Thursday after Scientific Games (NASDAQ: SGMS) agreed to acquire the gaming company for about $1.5 billion. On economic news front, Chicago’s manufacturing purchasing managers index (PMI) climbed to 56 in January, up from 50.0 in December. A reading above 50 signifies economic expansion. Economists’ consensus estimate was for a reading of less than 50. According to Labor Department, initial claims rose by 38,000 to seasonally adjusted 368,000. In the previous week initial claims fell to 330,000, which was lowest level in last five years. In a separate data, consumer spending climbed 2.6% while personal income rose 0.2% in December. Economists were expecting consumer spending to rise by 1%. European shares ended lower with Pan European Stoxx 600 Index ending 0.49% lower.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Online financing, rising costs squeeze profits at China's midsize banksOnline financing, rising costs squeeze profits at China's midsize banks
SHANGHAI/HONG KONG (Reuters) - Squeezed between cut-throat competition from online financing firms and rising funding costs, China`s midsize banks are falling out of investors` favor as they increas...
Asia stocks hobbled by growth woes, China PMI fails to impressAsia stocks hobbled by growth woes, China PMI fails to impress
TOKYO (Reuters) - Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese ...
Dollar holds steady, supported by Treasury yields, sagging euroDollar holds steady, supported by Treasury yields, sagging euro
TOKYO (Reuters) - The dollar steadied on Thursday, hovering near a one-week high versus the euro, supported by a slight rise in Treasury yields following news of an uptick in U.S. inflation. Conce...
Private capital gets more bang in China as economic reforms step upPrivate capital gets more bang in China as economic reforms step up
HONG KONG (Reuters) - Private firms have overtaken state-owned companies this year for the first time as the biggest drivers of investment banking revenues in China - a sign of how Beijing`s reforms...
Venezuela says to avoid costly foreign borrowingVenezuela says to avoid costly foreign borrowing
CARACAS (Reuters) - President Nicolas Maduro said on Wednesday that the South American OPEC member would avoid more borrowing on international markets because of rising costs as a result of worsening ...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.