US stocks mixed ahead of earnings reports
By DPA, IANSWednesday, October 7, 2009
NEW YORK - US stocks posted mixed results Wednesday as Wall Street braced for the start of the third-quarter earnings season in the US.
Financial firms posted gains, but telecommunications companies were down on a light trading day in New York.
The release of third-quarter earnings began after markets closed, with aluminium giant Alcoa Inc posting a surprising profit after three straight quarters of losses.
The blue-chip Dow Jones Industrial Average edged lower by 5.67 points, or 0.06 percent, to 9,725.58. The broader Standard & Poor’s 500 Index was up 2.86 points, or 0.27 percent, to 1,057.58. The technology-heavy Nasdaq Composite Index gained 6.76 points, or 0.32 percent, to 2,110.33.
The US currency inched up to 68.09 euro cents from 67.96 euro cents Tuesday. The dollar fell against the Japanese currency to 88.60 yen from 88.82 yen.
