US stocks slightly lower in thin trading
January 27th, 2012 - 3:53 am ICT by IANSNew York, Jan 27 (IANS) US stocks were slightly lower in thin trading Thursday amid earning reports, economic data and the Federal Reserve’s decision to keep low interest rate, Xinhua reported.On economic front, the number of people filing new claims for jobless benefits increased by 21,000 to 377,000 last week.
Meanwhile, heavy-machinery maker Caterpillar’s fourth-quarter earnings jumped 60 percent thanks to increase in new equipment sales.
The investors still cheered amid Fed’s statement Wednesday, which says that economic conditions “are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014″.
The Dow Jones industrial average lost 6.48 points, or 0.05 percent, at 12,750.48. The Standard & Poor’s 500 was down 5.82 points, or 0.44 percent, to 1,320.20. The Nasdaq Composite Index dropped 10.04 points, or 0.39 percent, to 2,807.30.
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Tags: caterpillar, dow jones, dow jones industrial, dow jones industrial average, earning reports, economic conditions, economic data, economic front, federal funds rate, federal reserve, fourth quarter earnings, heavy machinery, interest rate, investors, jobless benefits, nasdaq composite index, s 500, xinhua