Home

Stock market unable to keep up with gains

Calcutta News.Net
Monday 5th January, 2009

US investors were relatively cautious on Monday with Wall Street giving back some gains from last week’s stock market rally.

After investors sent the Dow Jones Industrial Average soaring to a two-month high on Friday, they seemed concerned about pouring too more money into the battered market.

A report that construction spending had fallen less than expected did not really pick the market up, although there was some energy on the floor due to president-elect Barack Obama’s calls for an economic stimulus package.

The Commerce Department said construction spending dropped by 0.6 percent in November, half the 1.3 percent decline Wall Street expected.

The Dow Jones industrial average fell 81.80 to 8,952.89.

The Standard & Poor’s 500 index fell 4.35 to 927.45.

The Nasdaq composite index fell 4.18 to 1,628.03.

Email this story to a friend



Have your say on this story

Your name/nickname (optional)
Message
Top Stories  
  • Subash may join Indian football team's Barcelona camp
    New Delhi, July 4 (IANS) East Bengal's young forward Subash Singh has been put on the standbye for injured Sunil Chettri for the national football team's camp in Barcelona. [read story]
  • Maoists hijack two buses in Bihar
    Patna, July 4 (IANS) Suspected Maoists Saturday hijacked two buses in Gaya district after letting the passengers get off, police said. [read story]
  • Bank employees' strike deferred
    Chennai, July 4 (IANS) A nationwide strike planned by employees of State Bank of India (SBI) and its six associate banks for July 6 against the merger of State Bank of Indore with SBI has been deferred, a union leader said Saturday. [read story]
  • Supreme Court urged to review gay ruling
    Lucknow, July 4 (IANS) Students and teachers of Lucknow's City Montessori School (CMS) - the world's largest school in terms of enrolment - have appealed to the chief justice of India to review the Delhi High Court's judgement on decriminalising homosexuality. [read story]
  • JD-S on verge of split
    New Delhi, July 4 (IANS) The Janata Dal-Secular (JD-S) led by former prime minister H.D. Deve Gowda appeared to be on the verge of a split as its national executive Saturday rejected Kerala unit president M.P. Veerendrakumar's demand and decided to continue the party's alliance with the ruling Left. [read story]