- U.S. stocks fell
Market news
12 January 2012
U.S. stocks fell
U.S. stocks fell, snapping a three- day gain in the Standard & Poor’s 500 Index, as a drop in energy and bank shares and a higher-than-forecast increase in jobless claims overshadowed easing concern about Europe’s debt crisis.
Chevron Corp. (CVX) slid 2.5 percent after oil-refining profit at the energy company slumped. Bank of America Corp. (BAC) reversed an earlier rally as a 2.3 percent decline helped drag financial shares lower. Sears Holdings (SHLD) Corp. sank 4.2 percent after vendor loans are said to be halted by CIT Group Inc. Dow Chemical Co. rose 2.4 percent as the European Union removed tariffs against the U.S. on a chemical used in paints and paper coatings.
S&P 500 1,292 -0.72 -0.06%, NASDAQ 2,715 +4.38 +0.16%, Dow 12,432 -17.48 -0.14%
Stocks fell as data showed that more Americans than forecast filed applications for unemployment benefits last week, raising the possibility that a greater-than-usual increase in temporary holiday hiring boosted December payrolls. Sales at U.S. retailers in December rose less than forecast, restrained by cheaper fuel prices and holiday discounting that helped hold down the value of goods sold.Chevron Corp. (CVX) slid 2.5 percent after oil-refining profit at the energy company slumped. Bank of America Corp. (BAC) reversed an earlier rally as a 2.3 percent decline helped drag financial shares lower. Sears Holdings (SHLD) Corp. sank 4.2 percent after vendor loans are said to be halted by CIT Group Inc. Dow Chemical Co. rose 2.4 percent as the European Union removed tariffs against the U.S. on a chemical used in paints and paper coatings.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page