NEW YORK (Dow Jones) – After a small rally in the last two hours’ trading on Wall Street has closed slightly firmer on Wednesday. The reduced outlook of the rating agency S & P for Spanish government bonds caused the meantime, for more significant contributions. The Dow Jones index rose by 0.5% led by 3M, or 51 points at 10,337. (Photo: Schneider)
Low in the leading index is already listed at 10,237 meters. The S & P 500 Index gained 0.4% or 4 points to 1096 and the Nasdaq Composite Index put on 0.5% or 11 meters at 2.184. Traded were 1.08 (Tuesday: 1.18) billion shares. These were unchanged at 1649 exchange gains 1,351-loser, 129 tracks closed.
"The market is currently combining a lot of different currents, and this combined with low volumes," a trader summed together, the trading activity. In this environment, messages could easily provide for short-term stimulus, but usually fizzle out quickly, "said another operator with a view of the lowered outlook for the Spanish credit rating by S & P.
This was typical for December realization of losses by selling stocks with low share price to reduce tax liability this year is not observed, it was said also in commerce. According to traders, the market has received some impetus from the October unexpectedly increased stock in the U.S. wholesale business. It was the first increase since August 2008. The figures pointed to an increase in production, as voices from the trade.
Were sought under the default defensive stocks from the pharma sector and the papers of 3M. Pfizer moved up 2.7% to U.S. $ 18.24, and Merck, up by 2.2% to 37.15 U.S. dollars. Winner of the day, however, were quite 3M, which climbed after Citigroup upgraded by 3.4% to U.S. $ 79.74 clear.
According to mixed economic data Öllagerbestandsdaten the oil stocks closed mixed. Exxon Mobil lost 0.2% to U.S. $ 72.79 and Chevron rose 0.4% to 77.06 against USD. The crude oil stocks had fallen within a week, although, contrary to forecasts, inventories raffinates but rose above market expectations.
In the second row stood among other things, Sprint Nextel in the focus of investor interest, which increased by 5.6% to 4.13 USD. Citigroup has upgraded the shares of the telecommunications service provider to "buy" from "hold." In support of dealers, according to analysts pointing to a possible takeover by the German Telekom.
Texas Instruments gave contrast to 1.3% to 25.99 U.S. dollars. The semiconductor manufacturer had concrete on Tuesday after the market closes its financial outlook for the fourth quarter on the top end of analysts’ current expectations. Market participants justified the losses with profits. According to CNBC, Citigroup will pay back through a capital increase of USD 20 billion to U.S. $ 45 billion state aid. Investors punished the stock subsequently declined by 1.3% to 3.86 USD.