Global Newsbrokers Stockmarket Service
Wall Street market report at 17:09:01
DOW AND NASDAQ REMAIN WEAKER
Thursday, January 13
The Dow Jones is down 33.55 at
10,584.23.
Share prices in New York remain under
pressure towards midday as a firmer
crude price offsets Apple's rally and
continues to keep a lid on sentiment.
The NASDAQ is down 4 points.
The decline in US crude inventories
reported yesterday is continuing to
support the oil price. At the same
time, the dollar remains on the
defensive after Wednesday's poor trade
data.
As for today's mixed batch of figures,
core retail sales were in line, higher
weekly jobless claims disappointed,
but the drop in import prices was
steeper than anticipated.
Apple remains the star of the show,
surging as broker upgradings follow
last night's strong results and
outlook.
Apple's fiscal Q1 earnings quadrupled
to 70c a share on sales of $3.49bn.
The company's forecast for EPS this
quarter of 40c on sales of $2.9bn was
also ahead of expectations.
But Pfizer is under pressure after the
FDA warned the group that adverts for
its Celebrex and Bextra drugs were
misleading.
Verizon Communications is also weaker
as it is hit by more broker
downgradings.
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