US stocks finish flat on mixed data

GMT 22:22 2014 Monday ,03 November

Arab Today, arab today US stocks finish flat on mixed data

Traders work on the floor of the New York Stock Exchange
New York - AFP

 US stocks finished little changed Monday following mixed economic data as markets paused after last week's records.
The Dow Jones Industrial Average fell 24.28 points (0.14 percent) to 17,366.24.
The broad-based S&P 500 dipped 0.24 (0.01 percent) to 2,017.81, while the tech-rich Nasdaq Composite Index gained 8.17 (0.18 percent) to 4,638.91.
The Institute for Supply Management's purchasing managers index for October manufacturing rose to 59.0, with companies saying activity is picking up more than expected going into the year-end holiday shopping season.
But the Commerce Department reported Monday that US construction spending fell a second straight month in September, for a 0.4 percent annual decline, surprising analysts who expected a pickup.
"It's not surprising (investors) are digesting a little bit after the highs" last week, said Mace Blicksilver, director of Marblehead Asset Management.
Chinese online vending giant Alibaba, surged 3.25 percent to a new high, one day ahead of its first earnings after IPO.
Social messaging service Twitter meanwhile sank 3.0 percent, and Facebook lost 1.5 percent.
Petroleum industry stocks suffered as US oil prices fell to their lowest level since June 2012.
Dow members ExxonMobil and Chevron lost 1.5 percent and 2.6 percent, respectively, while oil services companies Diamond Offshore and Baker Hughes fell 5.7 percent and 2.0 percent.
Covance shot up 25.9 percent on news that it will be acquired by Laboratory Corp. of America for $5.6 billion to create a giant in healthcare diagnostics. LabCorp fell 7.4 percent.
Sapient soared 42.0 percent on news it will be acquired by French public relations giant Publicis for $3.7 billion.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.35 percent from 2.34 percent Friday, while the 30-year rose to 3.07 percent from 3.06 percent Friday. Bond prices and yields move inversely.

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بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
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