NEW YORK: Technology shares pushed the Nasdaq fell on Wednesday and less than 1 percent, after Oracle announced its results for the health sector in question, even in large markets closed mostly flat thinly traded daily.
Outside the Nasdaq, the market recovered from early losses of some of the recent fears over the faded. Traders trying to build momentum and year-end rally to erase the S & P 500 is still 1.1 per cent losses 2011th
After the close on Tuesday, Oracle Corp. announced earnings and sales that missed expectations for the first time in ten years. Software giant joins a growing list of companies, including some of the biggest and oldest names in technology, the results have raised alarm bells and the outlook for business conditions.
Shares fell 12 percent to $ 25.77 in heavy volume, and the top decliners in the NASDAQ 100 Shares of other tech companies also fell. IBM was the biggest drag on the Dow, down 3.1 percent at $ 181.47. Cisco Systems Inc. lost 2.6 percent to $ 17.92 at the end. Philadelphia semiconductor index fell 1.2 percent.
"Oracle is a tech story, but there are concerns it could have wider economic story," said Brad Sorensen, director of market and sector analysis at Charles Schwab in Denver. "We are not willing to go that far yet, but it does show that companies do not have a stable economic situation, especially with all the uncertainty in Europe."
Nevertheless, Sorensen said the light volume ahead of Christmas and New Year holidays would increase the volatility, which is moving "a little more dramatic than normal."
The Dow Jones industrial average rose 4.16 points, or 0.03 percent, to 12,107.74. Standard & Poor's 500 Index
from 2.42 points, or 0.19 percent, to 1,243.72. Nasdaq Composite Index slid 25.76 points, or 0.99 percent, to 2,577.97.
For the year, the Dow is up 4.6 percent, while the Nasdaq is down 2.8 per cent.
Europe, investors are worried that the European Central Bank's latest cut-rate loans to finance the surgery is used to buy Italian and Spanish public debt, which will help lower your high yield and reduce pressure on the refinancing of the debt-stricken countries.
European banks took almost three years at a reduced price € 490000000000 loans from the Central Bank on Wednesday. Although the expansion of the catch between the German and Italian debt was originally proposed that the money was not flowing where it is needed most, those concerns faded towards the end of the day.
"As investors digest the ECB's strategy, there is some recognition of the fact that the banks are better off having more cash on their balance sheets, even if it is not lent out," said Mike Shea, managing partner and trader Direct Access Partners LLC in New York.
Italian banking group, said the banks would not increase their exposure to public debt, even after the ECB's offer, because the European Bank for Reconstruction and government regulations to prevent it.
Ryan Larson head of equity trading with RBC Global Asset Management in Chicago, said the market was unconfirmed talk circulating that the ECB's lending banks use to buy German bonds, and not to support the debt in Spain and Italy.
"That spooked the market," he said. "While this is a positive development, both the marginal lending facility is still a lot of problems out there."
He said that it was not possible to confirm any speculation.
On Tuesday, the rally was to raise the S & P 500 over his 50-day moving average. Many investors and traders are looking for a seasonal "Santa Rally" at the end of the year and want to jump to any signs of momentum.
U.S. listed shares of Research in Motion Ltd. jumped 10.1 per cent of $ 13.78 and ranked as the top Nasdaq 100 Gainer, after Reuters reported that the Amazon
and other potential bidders had been looking to offer the BlackBerry-maker, even though the interest had cooled a bit.
Recent economic data showed sales of previously owned by U.S. homes rose in November, but the corrections for the last four years, gave evidence that the housing market recession was deeper than previously thought.
Contract electronics manufacturer Jabil Circuit Inc., posted first quarter revenues were below expectations and said it sees lower revenues in the second quarter. Shares fell 2.8 percent to $ 19.40.
The volume was light, about 6520000000 Shares traded on the New York Stock Exchange, American Stock Exchange and the Nasdaq down last year, average daily 8470000000th
Approximately 59 percent of companies traded on the New York Stock Exchange closed at about 48 percent positive on Nasdaq finished lower.
Tech stocks slumped on Wednesday and the Nasdaq plunge below 1% after Oracle announced weak results, which questioned the health sector.
Oracle sinks Nasdaq, Dow, S & P company to hold
NEW YORK: Technology shares pushed the Nasdaq fell on Wednesday and less than 1 percent, after Oracle announced its results for the health sector in question, even in large markets closed mostly flat thinly traded daily.
Outside the Nasdaq, the market recovered from early losses of some of the recent fears over the faded. Traders trying to build momentum and year-end rally to erase the S & P 500 is still 1.1 per cent losses 2011th
After the close on Tuesday, Oracle Corp. announced earnings and sales that missed expectations for the first time in ten years. Software giant joins a growing list of companies, including some of the biggest and oldest names in technology, the results have raised alarm bells and the outlook for business conditions.
Shares fell 12 percent to $ 25.77 in heavy volume, and the top decliners in the NASDAQ 100 Shares of other tech companies also fell. IBM was the biggest drag on the Dow, down 3.1 percent at $ 181.47. Cisco Systems Inc. lost 2.6 percent to $ 17.92 at the end. Philadelphia semiconductor index fell 1.2 percent.
"Oracle is a tech story, but there are concerns it could have wider economic story," said Brad Sorensen, director of market and sector analysis at Charles Schwab in Denver. "We are not willing to go that far yet, but it does show that companies do not have a stable economic situation, especially with all the uncertainty in Europe."
Nevertheless, Sorensen said the light volume ahead of Christmas and New Year holidays would increase the volatility, which is moving "a little more dramatic than normal."
The Dow Jones industrial average rose 4.16 points, or 0.03 percent, to 12,107.74. Standard & Poor's 500 Index
from 2.42 points, or 0.19 percent, to 1,243.72. Nasdaq Composite Index slid 25.76 points, or 0.99 percent, to 2,577.97.
For the year, the Dow is up 4.6 percent, while the Nasdaq is down 2.8 per cent.
Europe, investors are worried that the European Central Bank's latest cut-rate loans to finance the surgery is used to buy Italian and Spanish public debt, which will help lower your high yield and reduce pressure on the refinancing of the debt-stricken countries.
European banks took almost three years at a reduced price € 490000000000 loans from the Central Bank on Wednesday. Although the expansion of the catch between the German and Italian debt was originally proposed that the money was not flowing where it is needed most, those concerns faded towards the end of the day.
"As investors digest the ECB's strategy, there is some recognition of the fact that the banks are better off having more cash on their balance sheets, even if it is not lent out," said Mike Shea, managing partner and trader Direct Access Partners LLC in New York.
Italian banking group, said the banks would not increase their exposure to public debt, even after the ECB's offer, because the European Bank for Reconstruction and government regulations to prevent it.
Ryan Larson head of equity trading with RBC Global Asset Management in Chicago, said the market was unconfirmed talk circulating that the ECB's lending banks use to buy German bonds, and not to support the debt in Spain and Italy.
"That spooked the market," he said. "While this is a positive development, both the marginal lending facility is still a lot of problems out there."
He said that it was not possible to confirm any speculation.
On Tuesday, the rally was to raise the S & P 500 over his 50-day moving average. Many investors and traders are looking for a seasonal "Santa Rally" at the end of the year and want to jump to any signs of momentum.
U.S. listed shares of Research in Motion Ltd. jumped 10.1 per cent of $ 13.78 and ranked as the top Nasdaq 100 Gainer, after Reuters reported that the Amazon
and other potential bidders had been looking to offer the BlackBerry-maker, even though the interest had cooled a bit.
Recent economic data showed sales of previously owned by U.S. homes rose in November, but the corrections for the last four years, gave evidence that the housing market recession was deeper than previously thought.
Contract electronics manufacturer Jabil Circuit Inc., posted first quarter revenues were below expectations and said it sees lower revenues in the second quarter. Shares fell 2.8 percent to $ 19.40.
The volume was light, about 6520000000 Shares traded on the New York Stock Exchange, American Stock Exchange and the Nasdaq down last year, average daily 8470000000th
Approximately 59 percent of companies traded on the New York Stock Exchange closed at about 48 percent positive on Nasdaq finished lower.
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Article Source:- http://economictimes.indiatimes.com/markets/global-markets/wall-street-oracle-sinks-nasdaq-1-dow-sp-hold-firm/articleshow/11199949.cms
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