SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 07 Nov, 2019  

NYSE.9.Thmb.jpg US stocks close mixed on US data, Fed statement

NYSE.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 07 Nov, 2019
US stocks ended mixed on Wednesday, with the Dow little changed, as Wall Street digested decreased US labour productivity in the third quarter and a speech of Chicago Federal Reserve President Charles Evans.

The Dow Jones Industrial Average was down 0.07 points, or 0.0003 per cent, to 27,492.56 on Thursday. The S&P 500 increased 2.16 points, or 0.07 per cent, to 3,076.78. The Nasdaq Composite Index decreased 24.05 points, or 0.29 per cent, to 8,410.63, Xinhua reported.

Seven of the 11 primary S&P 500 sectors traded higher around market close, with the health care sector up 0.56 per cent, leading the winners.

Shares of CVS Health rose 5.36 per cent, after the healthcare giant reported higher-than-expected earnings for the third quarter, as driven by its strong health insurance business.

Shares of Wendy's fell 0.34 per cent, after the company posted third-quarter earnings that beat market estimates. The fast food restaurant chain also raised its full-year outlook for growth.

Evans said during a Wednesday event that the US central bank's interest rate cuts have not been adequate to "change the dynamics substantially if there was a big negative shock".

"In terms of the mid cycle adjustment, I would say it's very much a risk management approach to ensuring the U.S. economy is positioned as well as it can be," he said at the Council of Foreign Relations, a non-profit think tank in New York City.

On the economic front, non-farm business sector labour productivity fell 0.3 per cent in Q3, the Bureau of Labor Statistics reported on Wednesday.

That's because output increased 2.1 per cent and hours worked rose 2.4 per cent for the quarter, indicating that American workers were less productive.

Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter