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Stocks near break-even on Wall Street
Source: Agencies |
November 22, 2012, Thursday
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STOCKS hovered near break-even yesterday on Wall Street ahead of the Thanksgiving holiday.
The Standard & Poor's 500 index was down a fraction of a point at 1,387. Bank stocks and utilities fell the most, while industrial companies rose the most, but no category of stock moved more than 0.5 percent.
The Dow Jones industrial average climbed 22 points to 12,811. Most of that was attributable to two of the most expensive stocks in the average, IBM and Boeing, each of which rose more than US$1. High-dollar stocks in the Dow carry more weight.
The Nasdaq composite index was down two points at 2,914.
Deere, the maker of tractors and other farm and construction equipment, opened down 3 percent. It reported a quarterly profit of US$1.75 per share, missing Wall Street expectations of US$1.88.
Chipotle Mexican Group, the restaurant chain, climbed 2.4 percent. It announced late Tuesday that it would buy back an additional US$100 million of its own stock. It had announced a US$100 million buyback plan Oct. 18.
The quiet open yesterday followed an uneventful finish Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to close down seven points.
The stock market will be closed today for Thanksgiving and will close early Friday.
The price of oil climbed 77 cents to US$87.52 per barrel. It fell US$2.53 on Tuesday because of signs that Israel and Hamas were close to a cease-fire to end Israel's weeklong assault on the Gaza Strip, but a cease-fire remained elusive yesterday.
In the bond market, the yield on the benchmark 10-year US Treasury note rose 0.01 percentage point to 1.68 percent.
The Standard & Poor's 500 index was down a fraction of a point at 1,387. Bank stocks and utilities fell the most, while industrial companies rose the most, but no category of stock moved more than 0.5 percent.
The Dow Jones industrial average climbed 22 points to 12,811. Most of that was attributable to two of the most expensive stocks in the average, IBM and Boeing, each of which rose more than US$1. High-dollar stocks in the Dow carry more weight.
The Nasdaq composite index was down two points at 2,914.
Deere, the maker of tractors and other farm and construction equipment, opened down 3 percent. It reported a quarterly profit of US$1.75 per share, missing Wall Street expectations of US$1.88.
Chipotle Mexican Group, the restaurant chain, climbed 2.4 percent. It announced late Tuesday that it would buy back an additional US$100 million of its own stock. It had announced a US$100 million buyback plan Oct. 18.
The quiet open yesterday followed an uneventful finish Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to close down seven points.
The stock market will be closed today for Thanksgiving and will close early Friday.
The price of oil climbed 77 cents to US$87.52 per barrel. It fell US$2.53 on Tuesday because of signs that Israel and Hamas were close to a cease-fire to end Israel's weeklong assault on the Gaza Strip, but a cease-fire remained elusive yesterday.
In the bond market, the yield on the benchmark 10-year US Treasury note rose 0.01 percentage point to 1.68 percent.
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