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May 17, 2008 12:49:48 AM CDT

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Stocks Flat After Day in Red  

Posted Apr 17, 08 3:27 PM CDT in Business    Most Covered

(newser) – The Dow ticked up 1.22 points to close at 12,620.49 today, after a flood of mixed earning reports mostly kept stocks down during the session. One analyst was impressed the market didn’t dip, saying it “seems to be holding up relatively well, especially after yesterday’s rally.” The Nasdaq was off 8.28 points, closing at 2,341.83, and the S&P rose 0.85 to 1,365.56.

Pfizer dipped nearly 4% after revealing a big profit drop, MarketWatch reports, while IBM soared after upping its 2008 forecast. Merrill Lynch’s bad news wasn’t enough to hold down Bank of America and JP Morgan, which both gained. Neither could the big growth in unemployment claims—up 17,000 last week—send stocks lower; the bad news had been built in to analyst expectations.

Source MarketWatch

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Stocks Flat After Day in Red
Jacqueline Bucello of UBS Securities monitors early trading at the New York Stock Exchange.   (AP Photo/Henny Ray Abrams)
Stocks Flat After Day in Red
South Korean President Lee Myung-bak, left, is joined by New York Stock Exchange CEO Duncan Niederauer as he rings the opening bell.   (AP Photo/Henny Ray Abrams)
Stocks Flat After Day in Red
Salvatore Gentile, center, talks with fellow traders on the floor of the New York Stock Exchange.   (AP Photo/Henny Ray Abrams)
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Dow Jones  • S&P 500  • Nasdaq  • Merrill Lynch  • Bank of America  • IBM  • Pfizer


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