Blue chips stocks on Wall Street are again lagged on the broader market as mixed corporate news overshadowed an encouraging weekly jobs report.The US Labor Department said initial unemployment claims fell more than expected last week. However, the previou
Blue chips stocks on Wall Street are again lagged on the broader market as mixed corporate news overshadowed an encouraging weekly jobs report.
The US Labor Department said initial unemployment claims fell more than expected last week. However, the previous week's figures were revised slightly upward.
At the close (10am NZ time), the Dow Jones Industrial Average was down 2.42 points to 11,370.06 after being in negative territory for all of the session.
DuPont led the decline, falling 1.8% after it said its outlook for 2011 profit fell short of the top end of analysts' expectations. Meanwhile, the chemical giant said it had exceeded internal expectations in 2010 and forecast higher margins.
The Nasdaq Composite edged up 0.3% to 2616.67 and the S&P 500 index added 0.4% to 1233.00.
Other markets: Europe, Asia up
European stocks were mostly higher. The Stoxx Europe 600 Index recently was up 0.3% at 275.93.
The UK FTSE 100 was 0.2% higher at 5807.96, Germany’s DAX was down 0.2% at 6964.16, weighed by a weak auto sector, and the French CAC-40 Index rose 0.7% to 3858.05.
Israel stocks finished the week at a record high, led by a jump in Teva Pharmaceutical after it reported progress with an oral multiple-sclerosis drug.
Tel Aviv’s benchmark TA-25 Index advanced 0.5% to 1298.97, while the TA-100 Index moved up 0.6% to 1198.91.
In Asia, Korean stocks jumped to their highest finish in more than three years as technology shares rose on expectations for strong holiday-season sales.
In Sydney, shares powered to a four-week high on a strong employment report.
Korea's Kospi jumped 1.7% to 1988.96, a closing level not seen since November 2007. Australia's S&P/ASX 200 gained 0.9% to 4741.30.
Japan's Nikkei Stock Average gained 0.5% to 10285.88, its highest close since May 14, and Thailand's SET ended 1.1% higher at 1035.85.
China's Shanghai Composite Index fell 1.3% to 2810.95, Hong Kong’s Hang Seng rose 0.3% to 23,171.80 and India's Sensex ended 2.3% lower at 19,242.36.
Commodities: Oil down, gold up
Oil futures traded lower, as weaker equities and a rising dollar erased a boost in prices earlier in the trading day.
Light, sweet crude for January delivery was down 15USc, or 0.2%, at $US88.13 a barrel in New York. Brent crude on the ICE futures exchange lost 21USc, or 0.2%, to $US90.56 a barrel.
Lower US Treasury yields helped push up gold prices. The most actively traded contract, for February delivery, was up $US8.80, or 0.6% at $US1392.00 an ounce in New York.
