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Dow gains but Nasdaq dips
Argentina News.Net
Tuesday 27th October, 2009
U.S industrial stocks moved ahead Tuesday while tech stocks ran aground.
Worse-than-anticipated consumer confidence rekindled fears the economy was not rebounding as well as understood.
"People want to take some profits. The consumer confidence numbers weren't great," Stephen Carl, principal and head of U.S. equity trading at The Williams Capital Group LP in New York told Reuters. "We had a good run with the Dow topping around 10,000 over the last week. Many people feel the market could be overvalued."
At the close of trading Tuesday the Dow Jones Industrials were up 14.21 points or 0.14% at 9,882.17.
The Nasdaq Composite was off 25.76 points or 1.20% at 2,116.09.
The Standard and Poor's 500 was down 3.54 points or 0.33% at 1,063.41.
The U.S. dollar was mixed. It gained sharply against the euro to 1.4794 by the New York close Tuesday. The Japanese yen and British pound however edged up to 91.80 and 1.6373 respectively.
The Swiss franc weakened to 1.0220. The Australian and Canadian dollars were little changed at .9149 and 1.0656 respectively.  Email this story to a friend
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