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Dow gains, S&P 500 falls

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US stocks were mixed at close with the Dow higher.

The Dow rose 19.61 points, or 0.15 per cent, to 13,145.82.

The Nasdaq fell 9.6 points, or 0.31 per cent, to 3095.36.

The S&P 500 lost 2.26 points, or 0.16 per cent, to 1403.28.

In news, real gross domestic product in the US rose at an annual rate of three per cent in the fourth quarter of 2011, according to the third estime by the US Department of Commerce.

Initial claims for unemployment insurance fell by 5000 to 359,000 in the week ending 24 March from a revised 364,000 a week earlier, according to the US Department of Labor. The four-week moving average fell by 3500 to 365,000 from 368,500 a week earlier.

In earnings, Best Buy reported a net loss of US$1.7 billion, or US$4.89 per share, for the quarter, compared with net income of US$651 million, or US$1.62 per share, in the same quarter a year earlier. Shares fell US$1.85, or 6.95 per cent, to US$24.77.

After the closing bell, Research in Motion reported a net loss of US$125 million, or US$0.24 per share, compared with net income of US$934 million, or US$1.78 per share, in the same quarter a year earlier.

Yesterday in Australia, the S&P/ASX 200 fell 5.6 points, or 0.13 per cent, to 4337.9 and the All Ords was 9.5 points, or 0.21 per cent, lower to 4422.

Oil this morning was at US$103.35 per barrel and gold was at US$1660.60 per ounce.

The Australian dollar was buying 103.81 US cents, 65.07 pence Sterling, 78.03 euro cents and 85.57 Japanese yen. 

Published on: Friday, March 30, 2012

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