Wall Street ends lower

Published August 3, 2008

NEW YORK, Aug 2: Wall Street ended the week slightly lower on Friday amid conflicting economic signals as traders and investors awaited a looming policy meeting of the Federal Reserve in the coming week.

Stocks seesawed through the week to Friday in continued volatile trade as investors sought to read the latest economic tea leaves.

Multiple reports showed that the US economy was expanding, albeit at a lackluster second quarter pace of 1.9 per cent, that home prices continued to fall, as did car sales, and that job losses continued to mount.

While the latter reports appeared bleak on the surface, economists pointed out that July job cuts of 51,000 were not nearly as bad as feared.

The Dow Jones Industrial Average of 30 blue-chip shares fell 0.39 per cent in the week to Friday, to end at 11,326.32, while the broad-market Standard & Poor’s 500 index lost a more modest 0.20 per cent to 1,260.31.—AFP

Opinion

Editorial

Taking cover
Updated 09 Jan, 2025

Taking cover

IT is unfortunate that, instead of taking ownership of important decisions, our officials usually seem keener to ...
A living hell
09 Jan, 2025

A living hell

WHAT Donald Trump does domestically when he enters the White House in just under two weeks is frankly the American...
A right denied
09 Jan, 2025

A right denied

DESPITE citizens possessing the constitutional and legal right to access it, federal ministries are failing to...
Closed doors
Updated 08 Jan, 2025

Closed doors

The nation’s fate has been decided through secret deals for too long, with the result that the citizenry has become increasingly alienated from the state.
Debt burden
08 Jan, 2025

Debt burden

THE federal government’s total debt stock soared by above 11pc year-over-year to Rs70.4tr at the end of November,...
GB power crisis
08 Jan, 2025

GB power crisis

MASS protests are not a novelty in Pakistan, and when the state refuses to listen through the available channels —...