Wall Street mixed

Published December 21, 2008

NEW YORK, Dec 20: Wall Street ended mixed on Friday as an early rally sparked by a 13.4-billion-dollar US government rescue of General Motors and Chrysler ran out of gas.

The Dow Jones Industrial Average lost 25.88 points (0.30 per cent) to close at 8,579.11 and the tech-dominated Nasdaq rose 11.95 points (0.77 per cent) to 1,564.32. The Standard & Poor’s 500 broad-market index edged up 2.60 points (0.20 per cent) to 887.88.

The session left the main indexes mixed for the week, with the Dow and S&P modestly lower and the Nasdaq higher.

Financials were mixed after Standard & Poor’s credit downgrades on 11 international banks.

Bank of America fell 1.15 per cent at $13.80, JPMorgan Chase rose 0.36 per cent to 30.32, Wells Fargo lost 0.98 per cent at 29.36 and Citigroup plunged 5.52 per cent to 7.02.

Oracle leapt 7.04 per cent to 17.78 and RIM gained 4.39 per cent at 42.83.—AFP

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