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US stocks slightly lower in thin trading
Chicago News.Net
Thursday 26th January, 2012
US stocks were slightly lower in thin trading Thursday amid earning reports, economic data and the Federal Reserve's decision to keep low interest rate, Xinhua reported.
On the economic front, the number of people filing new claims for jobless benefits increased by 21,000 to 377,000 last week.
Meanwhile, heavy-machinery maker Caterpillar's fourth-quarter earnings jumped 60 percent thanks to increase in new equipment sales.
Investors still cheered amid Fed's statement Wednesday, which says that economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014".
The Dow Jones industrial average lost 6.48 points, or 0.05 percent, at 12,750.48. The Standard Poor's 500 was down 5.82 points, or 0.44 percent, to 1,320.20. The Nasdaq Composite Index dropped 10.04 points, or 0.39 percent, to 2,807.30.
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