Transportation And Means Of Production Shares Led &Nbsp; &Nbsp; Tuesday Dow Down 0.53%.
As of 4:00 pm Eastern time, Dow Jones industrial average Down 60.09 points. Decline From 0.53% to 11346.75, the Nasdaq composite index fell 17.07 points, or 0.66%, to 2562.98 points; the standard & Poor's 500 index fell 9.85 points, or 0.81%, to 1213.40 points.
Transport and production data plate led to a low 0.53% on Tuesday.
After strong gains last week, investor sentiment stabilized on Tuesday. Although there are rumors of big mergers and acquisitions such as Chevron, the European debt crisis is hard to rule out. In the wake of the dollar's rally yesterday, the three major U.S. stock indexes have gone down, and the Dow has fallen from its high level in more than two years, and has fallen by 60.09 points, or 0.53%.
On the disk side, the energy and pharmaceutical sectors led, and the transport sector led the decline. In terms of stocks, Bank of America fell 2.62%, Kraft Foods fell 1.61%, Exxon Mobil increased 0.44%, Microsoft rose 0.52%, YAHOO rose 3.22%, AOL rose 0.73%, Atlas Energy rose 33.98%, Chevron fell 1.46%, Sara Li increased 2.77%, Citigroup fell 3.11%, JP JP dropped 1.51%, Priceline.com rose, 1.46% Tyco rose, Google fell, RIM fell, AK Steel fell.
Strong corporate earnings pushed European stocks up steadily, while the pan European Dow Jones index closed up 273.46 points on Tuesday, or 0.57%. The index rose to 274.23 highs since September 2008.
On Tuesday, when the foreign exchange market closed, the US dollar index of six major currencies was reported at 77.72 points, or 0.90%. The euro fell to 0.40% against the US dollar at 1.3862 US dollars. Sterling fell to 0.60% against the US dollar at $1.6046, while the US dollar closed at 81.15 yen, unchanged from Monday.
economic data
No important economic data are released today.
Company news
The Chevron Co said Tuesday it plans to buy Atlas Energy for $4 billion 300 million, including $3 billion 200 million in cash and $1 billion 100 million in debt. The company said that Atlas Energy has the largest market share in resource rich Marcellus and has great potential for growth. If the acquisition is successful, it will provide high-quality resources and strong competitiveness for the company.
General Electric global operations director John Rice said that in the next 2 years, GE plans to invest US $2 billion to develop China's business, of which 500 million US dollars will be used for R & D and new customer innovation centers, and the remaining 1 billion 500 million US dollars will be used to establish joint ventures with high-tech companies in China. Rice said he would focus on the development of markets in China, India, the Middle East and Brazil in the future.
Barclays Group's pre tax earnings fell 76% to 327 million pounds in the three quarter, and business income fell to 2 billion 830 million pounds from 3 billion 730 million in the same period in 2009. As a result of fixed income and losses in the stock market, Barclays Capital's pre tax earnings fell 1.2% to 765 million pounds in its investment banking sector. Barclay assured investors that its core tier one capital adequacy ratio remained at 10%.
The world's fourth largest brewer, Carlsberg brewery, increased its net profit in the third quarter from 1 billion 500 million kronor in the same period last year to 1 billion 950 million dkrona (US $364 million), an increase of 30% over the same period last year, from 16 billion 400 million kronor in the same period last year to 17 billion 700 million kroner. The company also raised its annual earnings forecast.
French luxury goods maker Hermes group's three quarter sales increased from 452 million 100 thousand euros in the same period last year to 590 million 100 thousand euros, an increase of 31% over the same period last year. Mr Hermes said sales growth in 2010 is expected to reach 15% without considering exchange rate fluctuations.
Vodafone Telecom doubled its pre tax earnings in the three quarter, from 5 billion 740 million pounds in the same period last year to 8 billion 240 million pounds (contract 13 billion 300 million dollars), and its revenue increased from 21 billion 760 million to 22 billion 600 million pounds, an increase of 2.9% over the same period last year. The company raised its full year profit forecast from 11 billion 800 million to 12 billion 200 million pounds.
The net income of Munich reinsurance increased by 19% to 764 million euros in the three quarter from 643 million in the same period last year, which is higher than analysts' expectations of 612 million euros. The total premium income increased from 10 billion 360 million euros last year to 11 billion 450 million euros. The company raised its annual consolidated income to 2 billion 400 million euros.
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