On Friday U.S stocks ended with losses following a warning from Fitch Ratings. The warning was the mean reason behind halting the advancing stock market today that started like an upbeat session following a vote of confidence won by the new Italian prime minister which clears the way for the passage of budget packet.
Fitch announced considering to down grade Italy, Spain, Belgium, Cyprus, Ireland and Slovenia. Dow Jones Industrial Average shed 2.42 points after rising by as much as 99 points to close at 11,866.39. Weekly decline of the blue chip index was 2.6%.
S&P 500 was higher by 0.3% Friday or 3.89 points to close the last day of the week at 1,219.65. Utilities were top among the 10 worst hit industry groups while energy was at the top of list of gainers. The index declined by 2.8% during the week.
The Nasdaq Composite rose by 0.6% or 14.32 points to 2,555.33 bringing it 3.5% down from the last week. Shares of Zynga Inc. declined by as much as 5% to $9.50 on the eve of disappointing debut on the Nasdaq. The initial public offering of the online-game maker was $10 a share.Previous Post » Exxon Mobil – Increase In Hybrid Automobiles Forecasted