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Saturday, November 30, 2013

Wall Street Varied In Session " Black Friday ''


Wall Street Varied In Session " Black Friday ''


Stocks on Wall Street ended mixed on a shortened trading session Friday ( Saturday morning GMT) , although some initial statements by the retailer reported a successful launch of the holiday shopping season is important .

The Dow Jones Industrial Average shed 10.92 points ( 0.07 percent) to 16086.41 , AFP reported .

The broad-based S & P 500 fell 1.42 points ( 0.08 percent) to 1805.81 , while the tech -heavy Nasdaq composite index rose 15.14 points ( 0.37 percent) to 4059.89 .

Retail giant Wal - Mart Stores and Target both reported a " record " weekend shopping opening important " Black Friday " , which began a period of holiday shopping season . " Black Friday " is the period between Thanksgiving and New Year for about 20 percent of annual sales of the retail sector .

Despite the positive comments , analysts have expressed concern that the profits among the retailers may suffer due to the promotion of hyper - competitive marketplace , where retailers cut prices to try to lure consumers who are miserly in the low-growing economy .

Retail stocks have varied day . Walmart rose 0.1 percent , up 0.5 percent Gap and JC Penney added 1.1 percent , while Target sank 0.8 percent and Macy's lost 0.5 percent .

Technology stocks continued to move higher after the Nasdaq closed above 4,000 earlier this week for the first time in 13 years . Apple jumped 1.9 percent , Dow component Microsoft rose 1.4 percent and 2.5 percent increases eBay .

Agricultural giant Archer Daniels Midland fell 3.0 percent after the Australian company rejected the takeover proposal Graincorp wheat worth 2.7 billion U.S. dollars .

Australian Treasurer Joe Hockey said the sector is moving towards a more robust competition and that a foreign takeover of the company handling the largest wheat in eastern Australia that could undermine public support for foreign investment in general .

Oil and gas producer Pioneer Natural Resources fell 0.7 percent after announcing that the bad weather forced him to cut a large number of projects in the production company said an " extensive recovery period expected " and that the work stoppage was not accounted for in previous estimates .

Fortinet , a security technology company , fell 12.9 percent after the Thanksgiving holiday evening announced that finance director ( CFO ) Ahmed Rubaie will resign for "personal reasons " .

Bond prices have not changed . The yield on 10 - year U.S. bonds held steady at 2.74 percent , the same level as Wednesday , while the 30 - year flat at 3.81 percent . Prices and bond yields move inversely .

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