NEW YORK: Wall Street shares wobbled to a mixed finish Tuesday as traders paused after an opening new year’s rally and awaited data offering clues on the pace of economic recovery.
The Dow Jones Industrial Average lost 11.94 points (0.11 per cent) to close at 10,572.02, a day after a jump of 1.5 per cent to kick off 2010 trading.
The technology-heavy Nasdaq composite eked out a gain of 0.29 points (0.01 per cent) to 2,308.71 and the broad-market Standard & Poor’s 500 index edged up 3.53 points (0.31 per cent) to 1,136.52.
Analysts said traders were digesting the big rally Monday, which often occurs as investors put cash to work at the start of a new year.
“There was widespread buying (on Monday) so a rest today doesn’t seem too ominous,” said Nick Perry at Schaeffer’s Investment Research.
Some said the market was awaiting Friday’s report on US payrolls and unemployment for a better sense of the economic recovery. A few analysts predict the report for December will show the first job growth in two years.
“The major report this week is Friday’s release on employment,” said Gregory Drahuschak at Janney Montgomery Scott.
“Nonfarm payrolls are expected to show no job losses. Some estimates even suggest there could be modest job growth.” -- AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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