The U.S. and E.U. equity markets gained in value after today’s announcement by the Chinese central bank that they would cut the rates by 0.25% in an effort to address the slowdown of the nation’s manufacturing sector.
Furthermore, a successful bond auction by Spain cheered investors around the globe, as it showed the government’s ability to raise money from investors two days after its treasury minister warned that the country was at risk of being shut out of financial markets.
The U.S. Dollar gained against the Euro after Federal Reserve Chairman Ben Bernanke cited significant risks to the U.S. economic recovery, but was hesitant in signaling Fed action to deal with them.
In today’s trading, the DJ30 closed at 12,460.96 gaining 46.17 points (+0.37%), while the SPX&P500 closed at 1,314.99, declining by 0.14 points ( -0.01%) and the NASDAQ declined by 13.70 points (-0.48%) compared to its opening price.
NASDAQ announced earlier a $40 million plan to compensate investors who lost out as a result of in its disastrous handling of the Facebook (FB) IPO. Facebook (FB) shares are down nearly by 30% from their initial public offering price of $38. Today it closed at 26.31, declining by -1.86%.
Apple Inc. (AAPL)shares got back on track after a report showing that the Mac Pro is expected to join the product portfolio of Apple computers in line to be upgraded next week at the company’s annual Worldwide Developers Conference.
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