• US stocks wobble to moderate gains


    NEW YORK, June 5, 2012 (AFP) – US stocks managed to eke out moderate gains in choppy trade Tuesday as investors weighed stronger-than-expected growth in the crucial services sector and Europe’s long-running financial crisis.

    The rebound followed last week’s steep losses but appeared to lack significant follow-through momentum.

    The Dow Jones Industrial Average was up 26.11 points, or 0.22 percent, to 12,127.57 in closing trade.

    The S&P 500-stock index rose 7.38 (0.57 percent) to 1,285.48, while the tech-rich Nasdaq Composite gained 18.10 (0.66 percent) to 2,778.11.

    Stocks got a brief shot in the arm from the Institute for Supply Management’s services index on the sector that accounts for about 70 percent of the world’s biggest economy.

    The ISM index rose to 53.7 percent in May from 53.5 percent in April, indicating a slightly faster growth rate. Expectations were for a decline to 53.1 percent.

    “This is a mixed report on non-manufacturing activity, but one that on balance suggests the economy continued to expand and that any slowdown in business conditions might prove to be short-lived,” said RDQ Economics analysts.

    1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)


    Loading ... Loading …

    Comments are closed

     
  • You Only Live Once! It’s back with a winter time swing, so come down and join some of the Arcadia Recreation Department’s staff for an evening of fun at the Dana Middle School Gym, 1401 S. First Avenue in Arcadia, from 5-10pm....
    Happy New Year! Rose Parade Float Trophy Winners...
    AND AWAY THEY GO… The Valentine Derby steering committee is looking forward to a wonderful fundraiser party at the Santa Anita Race Track this Saturday, April 12. The event will feature a silent auction during the cocktail hour, a seated dinner a...
    With an all-time high of 875 in attendance, Methodist Hospital’s 19th annual Mardi Gras also raised a record-breaking $144,000 to benefit the hospital’s important cancer program....
    The Pasadena Guild of Children’s Hospital Los Angeles has pledged a $3 million endowment to fund the Pasadena Guild Chair in Developmental Biology and Regenerative Medicine at Children’s Hospital Los Angeles....
     
     
     
    Directory powered by Business Directory Plugin