After slipping in and out of the red, the Dow Jones
Industrial Average (INDU) was down 11 points, or 0.1 percent, to 10,534
in recent trading.
The Nasdaq Composite Index (COMP) dropped 0.3 percent. The
Energy companies lagged as traders weighed mixed
oil-inventory reports. U.S. crude inventories fell last week by
slightly less than analysts expected, according to data released
Wednesday by the
However, after the market closed Tuesday, the
The financial sector’s decliners followed a
In other markets, the dollar strengthened against
both the euro and the yen. Treasurys showed little change, with the
10-year note up 1/32 recently at 3.799 percent.
The market opened lower Wednesday, though its early losses were checked after data on
Much of the week’s economic data, including
Tuesday’s housing and consumer-confidence reports, should be considered
in the context of the broader economy, said
“There’s some seasonal elements to some of the data.
Especially with such a choppy year, that seasonal element can be
magnified,” Walker said. “There’s going to be a little more noise in
the data, and one shouldn’t react so much to the noise as to the trend”
of gradually stabilizing employment and economic recovery.
The latest action comes after stocks fell slightly
Tuesday, snapping a six-session winning streak despite data that showed
the highest level of consumer confidence since
and the slowest year-on-year house-price decline in two years. However,
volume was particularly light, and traders cautioned against
interpreting much from the market’s moves Tuesday.
Trading volume is expected to be even lighter for the rest of the week ahead of the
Among stocks in focus,
The charge is to account for previously announced job cuts and real
estate consolidations, as well as workforce reductions in the first
quarter of 2010.
Still to come Wednesday is the final U.S. government auction of the year,
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