Tag: stock market is down

On Thursday the markets again declined due to renewed concerns about economic recovery, strengthening of dollar and bleak outlook of the technology sector. The Dow Jones industrial average declined by 94 points(0.9%) to close at 10,332.4 points. The S&P 500 declined by 1.3% to close just below the all important  1,100 point level. The Nasdaq composite  which is heavily technology shares driven lost heavily by 36 points (1.6%) to close at 2,156.82. Technology shares on Monday took a beating after Bank of America Merrill Lynch downgraded the  semiconductor industry. The semiconductor industry was downgraded after two key software companies issued not so positive profit outlooks for the fourth quarter. Stocks of chip makers Intel and AMD declined the most by more than 3% Also after the trading day ended Dell Inc came up with its third quarter results which was short of analyst expectation.  [...]

Two factors bought the stock market down on Wednesday. Firstly the unexpected drop in new home construction which shook investor confidence and then not so great profit outlooks in technology sector. The Dow Jones industrial average declined by 11 points (0.1%) to end at 10,426.3 points. The S&P 500 (SPX) declined by less than one point to close at 1,109.8 points. The Nasdaq composite which is mainly technology shares driven declined by 10 point (0.5%) to end at 2,193.1 points . Sector wise technology and utility stocks registered the maximum decline of 0.5% each. Other sectors which declined included Industrials (decline of 0.4%), Energy (decline of 0.3%), Consumer Discretionary (decline of 0.3%) and Materials (decline of 0.1%). Sectors that gained included financials (gain of 0.9%), health care (gain of 0.4%) and Telecom (gain of 0.2%). Consumer staples closed the day at the same  [...]