U.S. stocks on slippery slope

Bangladesh News.Net
Monday 21st July, 2008

U.S. stocks struggled to get a foothold on Monday. Damage at the end however was limited.

iPod manufacturer Apple disappointed with fourth quarter earnings projections, oil shares rose on a higher oil price, while finacial stocks dragged despite a better-than-expected profit report from Bank of America,

At the close of trading the Dow Jones Industrials were down 29.23 points or 0.25% at 11,467.34.

The Nasdaq Composite was off 3.25 points or 0.14% at 2,279.53.

The Standard and Poor's 500 was down 0.68 of a point or 0.05% at 1,260.00.

The U.S. dollar was weaker against most currencies. It was litle changed against the Japanese yen.

At the New York close the euro was changing hands at 1.5910. The British pound was fetching 2.0020, and the Swiss franc was quoted at 1.0188.

The Japanese yen traded at 106.61, while the Australian dollar rose to .9761. The Canadian dollar was firmer at 1.0013.

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