It went up and down on the U.S. stock market on Friday. Investors are keeping a close eye on the economic data that alternately disappoints and shows good performance.
Dow Jones index ended the day with a minimal increase of 0.03 percent to index 13,107. S&P 500 ended the day with a small loss of 0.07 percent to Index 1411, while the Nasdaq rose by 0.06 percent to index 2987.
All three indexes were well under way in the morning, but subsequently fell back. A last hour sprint, however secured small pluses on the last trading day of the week.
The increases came among others thanks to growth figures for the third quarter that was better than expected. On the other hand a report on consumer confidence did not quite reach the bars, economists had expected.
We see a mix of data that does not really have a clear direction. It is important for investors' psychology to see GDB data beat estimates. But financial statements for third quarter have been very challenging.
Among the stocks, there were large fluctuations in tire manufacturer Goodyear Tire & Rubber Co., which fell 10 percent after a disappointing financial statement. The online travel agency Expedia Inc. jumped by 13 percent, when the financial statement for the third quarter was significantly better than analysts' estimates.
No comments:
Post a Comment