Dow Industrials Drops Below 10100

Posted by admin on Jan 28th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Dow Industrials Drops Below 10100 NEW YORK—U.S. stocks fell Thursday, led by the technology sector as investors registered their disappointment with Apple's new tablet device. Worse-than-expected reports on jobs and durable goods also weighed. European Pressphoto Agency Media get a hand on demo of the iPad during an Apple event Jan. 27. Technology stocks are own on Thursday. The Dow Jones Industrial Average was down 159 points, or 1.5%, to 10079 in recent trading. The decline marks the Dow's first time below 10100 since November. American Express was Dow's measure's worst performer, off 4.2%. Diversified manufacturer 3M dropped 3.5%, despite a 74% surge in its fourth-quarter profit, better than Wall Street analysts had forecast, and a boost to the company's 2010 earnings outlook. The Dow's technology components were also particularly weak. Hewlett-Packard fell 3.4%, Intel slipped 2.3% and Cisco dropped 2.2%. Procter & Gamble was one of the Dow's few gainers. Its shares climbed 2% after the consumer products company's quarterly earnings came in above estimates.[Read more...]

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