US stocks trim losses amid Spain concern

March 30th, 2012 - 4:06 am ICT by IANS  

New York, March 30 (IANS) US stocks trimmed early losses and ended the session mixed Thursday as investors weighed debt problems in Spain against positive domestic economic data.

The Dow Jones industrial average added 19.61 points, or 0.15 percent, at 13,145.82. The Standard & Poor’s 500 dipped 2.26 points, or 0.16 percent, to 1,403.28. The Nasdaq Composite Index dropped 9.60 points, or 0.31 percent, to 3,095.36, Xinhua reported.

Major indexes were mired in the red for most time during the session as the situation in Spain reminded investors the crisis in Europe was far from over.

In Madrid, people took to street to protest against the government’s austerity plan and clashed with police, spurring fresh concerns about the nation’s debt outlook.

Thursday’s domestic economic data came in a little bit better than expected, but failed to boost the market.

The Commerce Department said the US economy expanded at a 3-percent annual rate, the fastest pace since mid-2010.

Meanwhile, the Labor Department reported jobless claims last week dropped 5,000 to a seasonally adjusted 359,000, hitting another four-year low.

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