05 Apr '11, 10pm

US stocks flat on cloud of worries

US stocks flat on cloud of worries

NEW YORK: US stocks closed flat on Tuesday, with sentiment dampened by data showing slower growth in the crucial services sector, rising oil prices, an interest rate hike in China and moves by the Federal Reserve. The Dow Jones Industrial Average slipped 6.13 points (0.05 percent) to 12,393.90, while the tech-rich Nasdaq Composite rose 2.00 points (0.07 percent) to 2,791.19. The broad-market S&P 500-stock index eased back 0.24 point (0.02 percent) at 1,332.63. Traders digested news that the Federal Reserve edged toward ending years of ultra-loose monetary policy in the face of a building US recovery and looming inflation fears. Minutes from the latest Federal Open Market Committee policy meeting showed members discussed ending long-standing policies, including ultra-low interest rates, aimed at restoring economic growth after the 2007-2009 recession. "Investors may be wait...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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