Global Newsbrokers Stockmarket Service
Wall Street open 14:56:01
US STOCKS OPEN LOWER
Thursday, January 13
The Dow Jones is down 27.71 at
10,590.07.
US stocks are under early pressure
today as profit-taking on yesterday's
gains is encouraged by a rise in the
oil price. The NASDAQ is down 3
points.
A drop in US crude inventories
reported yesterday is lifting the oil
price and helping to offset the
benefits of an early rally in Apple.
Apple is surging as broker upgradings
follow last night's strong results and
outlook.
Apple beat expectations as its fiscal
Q1 earnings quadrupled to 70c a share
on sales of $3.49bn. The company also
sees EPS this quarter of 40c on sales
of $2.9bn, again ahead of forecasts.
But Pfizer is under early pressure
after the FDA warned the group that
adverts for its Celebrex and Bextra
drugs were misleading.
On the economic front, today's news
has proved mixed. Overall retail
sales rose by a stronger-than-expected
1.2 per cent in December, fuelled by
car sales. However, core sales
excluding autos were up an in-line 0.3
per cent.
New weekly jobless claims have
disappointed, rising by 10,000 to
367,000, but import prices were soft
last month, falling by 1.3 per cent.
Main index