• Debt Ceiling Concerns Push U.S. Markets Lower


    NEW YORK, Jan 15, 2013 (AFP) – US equity markets were notably lower Tuesday morning amid renewed concerns about the acrimonious Washington debate on fiscal issues.

    At 1506 GMT, the Dow Jones Industrial Average was at 13,474.53, down 32.79 (0.24 percent).

    The broad-based S&P 500 slid 5.06 (0.34 percent) to 1,465.62. The Nasdaq Composite fell 20.91 (0.67 percent) to 3,096.5963.

    The retreat came as the market cast its eye anew at Washington, where President Obama and congressional Republicans are sparring over whether to raise the debt ceiling.

    President Obama criticized congressional Republicans Monday during a news conference.

    Fitch ratings agency warned Tuesday that it might cut the US’ top “AAA” rating if Washington power brokers fail to reach an accord on the debt ceiling.

    Analysts noted that the decline in equities came in spite of relatively strong retail sales, which rose in December by 0.5 percent, above the 0.2 percent forecast by analysts.

    “The US equity markets are shrugging off a stronger-than-expected read on domestic December retail sales, with festering fiscal uncertainty restraining bullish conviction on the Street,” said a market update from Charles Schwab.

    1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)


    Loading ... Loading …

    Comments are closed

     
  • Christina Yu Yu, PhD, an expert in Chinese art and culture, began her new role as director of USC Pacific Asia Museum (USC PAM). Among her priorities for the museum will be recruiting a new curator to help with selection of exhibitions and to direct co...
    Happy New Year! Rose Parade Float Trophy Winners...
    The Greater Los Angeles County Vector Control District issued a warning to San Gabriel Valley residents to be on the lookout for an invasive species of insect called the Asian Tiger Mosquito (Ae. albopictus) which could be carrying a debilitating virus...
    The Ice House on September 11 will present Last Comic Standing finalist Lachlan Patterson for one show only....
    Local fine artist Sam Nicholson is donating 25 percent of any of his paintings purchased by supporters of the Pasadena-headquartered non-profit Hillsides....
     
     
     
    Directory powered by Business Directory Plugin