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- Global Stocks: U.S. stock indices little changed
Global Stocks: U.S. stock indices little changed
On Tuesday U.S. stock indices closed flat weighed by a 3.2% decline in the Apple's shares.
The Dow Jones Industrial Average climbed 27.73 points, or 0.2%%, to 17,758.21. The S&P 500 edged up 3.14 points, or 0.2%, to 2,081.72. The Nasdaq Composite fell 12.06 points, or 0.2%%, to 5,083.24.
Apple's shares fell after Credit Suisse said the company had cut component orders for iPhone by 10%. This news added to concerns over slowing growth of the global economy, especially China.
The National Federation of Independent Business reported that small business confidence was unchanged in October in the U.S. after a modest growth in recent months. Weak sales persuaded companies to revise their investment and hiring plans. The small business confidence index remained at 96.1 points below a long-term median reading of 98.0. Economists had expected the index to advance to 96.2.
This morning in Asia Hong Kong Hang Seng slid 0.02%, or 5.21, to 22,396.49. China Shanghai Composite Index fell 0.54%, or 19.81, to 3.620.67. The Nikkei 225 climbed 0.17%, or 33.85, to 19,705.11.
Asian indices posted mixed results.
Data have shown this morning that China's retail sales rose by 11.0% in October vs 10.9% reported previously and 10,9% expected by economists. Industrial production growth declined to 5.6% in October from 5.7% reported previously and 5.8% expected. Meanwhile fixed asset investment rose by 10.2% in September after a 10.3% growth reported previously. The latest change was in line with expectations.
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