Last Update 20:38
Monday, 24 February 2020

US shares ease from 5-year heights

US stocks declines after it reached record-high rates Friday

AFP, Monday 11 Feb 2013
Views: 391
Views: 391

US shares pulled back in opening trade Monday after reaching five-year peaks in light trade on Friday.

Little direction was seen in the market: traders are "waiting to be moved by something," said Patrick O'Hare of

At 10:15 am (1515 GMT) the Dow Jones Industrial Average was down 35.13 points (0.25 percent) at 13,957.84.

The S&P 500 fell 2.17 (0.14 percent) to 1,515.76, while the tech-rich Nasdaq Composite lost 7.74 (0.24 percent) at 3,186.13.

Energy shares fell more than other sectors, led by ExxonMobil, down 0.7 percent, and Halliburton, off 0.5 percent.

Google shares slid 7.4 percent after the company revealed late Friday that Chairman Eric Schmidt plans to sell 3.2 million of his "A" shares in the company, currently worth $2.5 billion, over the next year.

Moody's rebounded 3.7 percent after plunging last week on worries it could also face a federal lawsuit after the Justice Department sued rival Standard & Poor's over exaggerated ratings of mortgage securities in 2007.

S&P parent McGraw-Hill gained 0.6 percent.

Long-troubled Internet-media group AOL jumped 7.1 percent after it reported late Friday that fourth-quarter profits jumped 57 percent from a year earlier to $35.7 million, led by a rise in ad revenues.

BlackBerry lost 4.6 percent.

Bond prices were flat. The yield on the 10-year US Treasury held at 1.95 while the 30-year yield was 3.16 percent, down from 3.17 percent lat Friday. Bond prices and yields move inversely.

Search Keywords:
Short link:



© 2010 Ahram Online.