U.S. stocks were mixed early Thursday. The latest economic data painted a picture of U.S. economic recovery in complex scenes. Investors are still worried about the fragile financial position of the euro area.
EST at 10:57 on December 16 (Beijing time at 23:57 on December 16), the Dow Jones Industrial Average fell 4.88 points to 11,452.59 points, down 0.04%; the Nasdaq composite index rose 6.07 points to 2,623.29 points, or 0.23%; Standard & Poor's 500 index rose 1.33 points to 1,236.36 points, or 0.09%.
Dow component American Express (AXP) fell 0.5% after the company announced the acquisition of marketing agency Loyalty Partner. Procter & Gamble (PG) fell 0.6% after the company reiterated its fiscal year 2011, the current extreme and performance expectations.
U.S. economic data for the four economic recovery painted a fuzzy picture. Federal Reserve Bank of Philadelphia reported that the November mid-Atlantic region's overall business conditions index rose to 24.3 activities, exceeding market expectations, but sales and employment growth slowed.
Labor market data released today encouraging. The Labor Department reported the week ending December 11 initial claims for unemployment benefits fell by 3,000, to 42 million people. Data from 42.1 million the previous week were revised up to 42.3 million. Economists surveyed by Dow Jones Newswires had expected claims for unemployment benefits last week increased the number of 4000.
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