Saturday, November 3, 2012

Dow is down only 14 points despite of Sandy

Dow is down only 14 points for the week, easing concern that damages from Sandy would affect share prices or the US economy.

Dow Jones industrial average slipped 139.46 points, or 1.1%, to 13,093.16. That reversed its 136-point gain Thursday amid encouraging reports on consumer confidence and manufacturing.

The Standard & Poor's 500 index declined 13.39 points, or 0.9%, to 1,414,20. For the week, it rose a bit more than 2 points, or 0.2%.

Stocks rose initially Friday after the government reported that the U.S. added a better-than-expected 171,000 jobs in October. But share prices soon began a steady descent into the closing bell.

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