21 Jan '11, 10pm

Wall Street mixed despite positive Q4 earnings

NEW YORK: US stock markets closed mixed on Friday despite positive fourth-quarter earnings reported by major companies like eBay, Google and General Electric. The Dow Jones Industrial average finished 49.04 points higher (0.41 percent) at 11,871.84, while the S&P 500 rose 3.09 percent (0.24 percent) to 1,283.35. But the tech-heavy Nasdaq dropped 14.75 (0.55 percent) to 2,689.54, as key components like Apple, Google and Microsoft all lost ground. The Dow got propulsion from GE, which posted banner fourth-quarter profit of $3.9 billion and said its order backlog was at "a record $175 billion." GE closed the day up 7.11 percent to $19.74. Bank of America, the country's largest bank, fell 1.99 percent after reporting a net loss of $1.2 billion for the fourth quarter, far worse than analyst forecasts. The bank cited falling revenue and a hefty $2.0 billion writedown on its home...

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

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{ "market" : {"NAME" : "", "ID" : "sg", "TZ" : "", "TZOFFSET" : "28800", "open" : "", "close" : "", "flags" : ""} ,"STREAM...

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