Filed under: China, S and P 500, DJIA, NASDAQ
Heavy snow and blizzard conditions in the northeast made it difficult, if not impossible, for many workers to get to work on the first day following the Christmas holidays. New York's John F. Kennedy International Airport is closed until at least 6 p.m. today, and train service has been disrupted throughout the northeastern corridor. The storm also put a damper on shoppers who would normally head out today to hunt for bargains, cash in gift cards, or return gifts. Airlines also took a hit, as they have allowed passengers to delay travel for several days without the usual change fees. Coupled with the 25-basis point hike in China's lending and borrowing rates, the stock market opened on a weak note, with the DJIA down about 46 points before gaining half of that back by noon.
Here are the numbers for late afternoon trading today:
Dow Jones 11,555.03 -18.46 (-0.16%)
S&P 500 1,257.54 +0.77 (0.06%)
Nasdaq 2,667.27 +0.69 (0.03%)
Closing Bell: Snow, Chinese Interest Rate Hikes Chilly Stocks (RPRX, JTX, HRB, AVL, PSDV, ALIM, TSLA) originally appeared on BloggingStocks on Mon, 27 Dec 2010 16:00:00 EST. Please see our terms for use of feeds.
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