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NEW YORK, MAKE MONEY BLOG $ - Wall Street ended mixed (mixed) on Thursday (20/09/2012) local time (Friday morning GMT), after poor economic data in the U.S., Europe and China could push the market lower in early trade
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Health care stocks and utilities fared well, while the transport sector suffered significant losses, falling by 2.6 percent.
The Dow Jones Industrial Average closed up 18.97 points (0.14 percent) to 13596.93. Stock index S & P 500 lost 0.79 points (0.05 percent) to 1460.26, while the tech-heavy Nasdaq composite index fell 6.66 points (0.21 percent) to 3175.96.
Earlier, Asian and European markets closed sharply lower following bad data purchasing managers index (PMI) showed continued contraction in manufacturing activity in both regions.
Meanwhile, U.S. data mostly gloomy, such as weekly jobless claims numbers are not good, a small decrease in the index of leading economic indicators the Conference Board, and the continuing negative number in the Federal Reserve's index of economic activity for the Philadelphia area.
"What was strong during the early part of the economic recovery weaker now and what the weak strong," said Gary Thayer of Wells Fargo Advisors.
JC Penney tumbled 11.2 percent after the struggling retailer's chief executive was warned that sales may continue to be weak for the rest of the year.
Simon Property, the owners of hundreds of malls across the country, fell 3.0 percent after it failed to meet forecasts despite solid quarterly earnings report.
ExxonMobil rose 1.1 percent on news that it has purchased the assets productive Bakken Shale in North Dakota and Montana at 1.6 billion U.S. dollars in cash and assets from Denbury Resources swap based in Texas.
Bed Bath and Beyond shares fell 9.8 percent after its second-quarter profit below analysts' estimates. Profit for the quarter was 224.3 million U.S. dollars, 98 cents per share, compared with 93 cents per share a year earlier.
Shares of News Corp edged up 0.6 percent after the British media watchdog has decided to allow BSkyB subsidiary with 39 percent ownership to retain the broadcast license in the phone-hacking scandal.
While Apple dropped back below the 700 dollars, slipped 0.5 percent to end at 698.70 U.S. dollars.
Sources: KOMPAS.com
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