...

US stocks drop as tech shares rise

Business Materials 14 October 2011 03:14
The Dow industrials and S&P 500 stock indices dropped slightly on Thursday after lower earnings reports from banking giant JPMorgan Chase & Co while technology stocks rose, DPA reported.
US stocks drop as tech shares rise

The Dow industrials and S&P 500 stock indices dropped slightly on Thursday after lower earnings reports from banking giant JPMorgan Chase & Co while technology stocks rose, DPA reported.

Mega bank JPMorgan slid 4.8 per cent after reporting a 33-per-cent loss in profits, excluding a 1.9-billion-dollar accounting benefit. Meanwhile, Yahoo! Inc climbed 3.8 per cent after people with knowledge of the matter said KKR & Co and Blackstone Group LP are among the companies considering bids for the internet company.

The blue-chip Dow Jones Industrial Average slid 40.72 points, or 0.35 per cent, to 11,478.13. The broader Standard & Poor's Index lost 3.59 points, or 0.3 per cent, to 1,203.66. The technology-heavy Nasdaq Composite Index was up 15.51 points, or 0.6 per cent, to 2,620.24.

The US dollar rose marginally against the euro to 72.59 euro cents from 72.52 euro cents on Wednesday. The dollar slipped against the Japanese currency to 76.88 yen from 77.28 yen on Wednesday.

Latest

Latest