World Business
US stocks trade mixed on earnings, concerns on financial reform
(Xinhua)
Updated: 2010-04-27 09:15
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NEW YORK: Wall Street traded mixed on Monday as investors worried the possible US financial regulatory reform would curb financial companies' profit.
The US stocks opened higher in the morning as robust earnings continued to boost market sentiment.
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The heavy machinery maker also raised its forecast for the year, saying economic conditions are definitely improving, particularly in the world's developing economies.
However, concerns over Greece's ability to access rescue funds soon enough to avoid default kept the gains in check for broader indexes.
Investors were also worried the possible financial regulatory reform would undermine financial companies' capabilities to make profit.
The Dow Jones industrial average inched up 0.75, or 0.01 percent, to 11,205.03. The Standard & Poor's 500 index was down 5. 23, or 0.43 percent, to 1,212.05, and the Nasdaq declined 7.20, or 0.28 percent, to 2,522.95.
