Stocks lose ground on economic woe, GM

Puntúa la noticia :

Nota de los usuarios: - (0votos)

• Bolsa, mercados y cotizaciones
• Empresas y finanzas
• Telecomunicaciones y tecnología

Share

Tweet

elEconomista.es en Twitter

Follow @eleconomistaes

EcoTablet - ¡Gratis en App Store!

La plataforma más completa de información y servicios económicos para iPad.

• Suscribirse al boletín
• Imprimir
• Enviar
• Aumentar texto
• Reducir texto
• Haga doble click sobre una palabra para ver su signifcado
• Sudoku: Juega cada día a uno nuevo
• El tiempo: Consulta la previsión para tu ciudad

NEW YORK (Reuters) - Stocks lost ground in choppy trade on Tuesday as ongoing worries about the worsening global economic downturn offset Hewlett-Packard's upbeat quarterly results and profit outlook.

Uncertainty about the fate of billions in government financial aid sought by General Motors Corp and the other beleaguered U.S. automakers also fueled caution.

Shares of GM were down 10.4 percent to $2.85. Auto executives were set to take their case to the U.S. Congress later on Tuesday, but U.S. Treasury Secretary Henry Paulson told a House Financial Services Committee hearing that the $700 billion bailout fund should not be used to prevent the failure of automakers.

News on the economy included a report that showed no let up in the housing woes. The National Association of Home Builders said home builder sentiment fell to a record low in November.

"It's the same thing that's been plaguing us for the last six months - concerns about economy," said Peter Boockvar, equity strategist at Miller Tabak & Co in New York.

The Dow Jones industrial average <.DJI> fell 16 points, or 0.2 percent, to 8,257. The Standard & Poor's 500 Index <.SPX> was down 8 points, or 0.93 percent, at 843. The Nasdaq Composite Index <.IXIC> lost 35 points, or 2.4 percent, to 1,447.

HP was the biggest lift on the Dow after the computer maker reported stronger-than-expected results and forecast full-year profit that beat expectations. HP was up 9.7 percent to $32.17, while also in the sector, IBM Inc rose 1.1 percent to $78.29.

On the Nasdaq, shares of Google fell 4.3 percent to $287.15. The departure of Yahoo CEO Jerry Yang raised hopes that the Internet media company will cut a deal with Microsoft, looking for ways to compete with Google. Yahoo shares rose 5.8 percent to $11.25.

(Reporting by Leah Schnurr and Charles Mikolajczak; Editing by Kenneth Barry)

PUBLICIDAD

- Recibe nuestros análisis Diarios sobre Divisas, Acciones y Opciones. ¡Apúntate ya! ¡Es GRATIS!

- Opere en más de 8.000 CFDs. Infórmese y obtenga su CFD Trading Guide

- Nuevos spreads en materias primas: Oro tan sólo 0,3 puntos, Plata 0,25, Petróleo 0,35

- Opera desde 2,95 € en tiempo real con Self Bank.