|
Investors were cautious before the US employment data was released. The US stocks slid for the second consecutive day. Dow closed at 9,256 points, down 24 points 0.3%. Nasdaq closed at 1,973 points, down 19 points or 1%. S&P 500 closed at 997 points, down 5 points or 0.6%.
Financials were mixed. American Express's write-offs tied to uncollectible credit-card debts fell for the second consecutive month in July. The stock's rating was upgraded by Citigroup and rose 3.1%. Apart from that, Bank of America rose 0.2%, Citigroup rose 6.1%, while JP Morgan Chase fell 2.5% and Goldman Sachs fell 1.1%. A number of financial institutions upgraded their target prices on Cisco the stock rose 0.6%. However, other TechNet stocks were mostly down as Hewlett-Packard fell 2.4%, Dell fell 3.4% and Apple fell 0.7%.
New York oil futures fell with stock market and closed down 3 US cents at US$71.94 per barrel. New York gold futures closed down US$ 3.4 at US$ 962.9 per ounce.
European stock markets all rebounded. FTSE100 in the UK closed at 4,690 points, up 43 points or 0.9%. The DAX Index in Germany closed at 5,369 points, up 16 points or 0.3%. The CAC40 Index in France closed at 3,477 points, up 19 points or 0.6%.
Gold is unlikely to gain power anymore above 970 next
week. |
|