Business News
US stocks mixed on poor earnings, financials rally
Nov 10, 2009, 20:56 GMT
New York - US stocks were mixed Tuesday as some companies posted disappointing quarterly earnings but financial firms gained.
The uneven trading day comes after a week of big gains by US market indices. The blue-chip Dow Jones Industrial Average, which is trading at its highest level this year, added 20.03 points, or 0.2 per cent, to close at 10,246.97.
But the broader Standard and Poor's 500 Index inched lower by 0.07 points, or 0.01 per cent, to 1,093.01. The technology-heavy Nasdaq Composite Index slid 2.98 points, or 0.14 per cent, to 2,151.08.
American Express and Bank of America led the gains. Bond guarantor MBIA and Electronic Arts were among the companies that fell amid poor profit forecasts.
The US currency edged up against the euro to 66.75 euro cents from 66.69 euro cents on Monday. The dollar fell against the Japanese currency to 89.86 yen from 89.98 yen.
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