Dow Ekes Out Small Gains
(NEW YORK) — Stocks Wednesday bounced between small gains and losses as investors mulled over an earnings forecast for FedEx and European economic reports showing a slowdown in manufacturing.
The Dow eventually settled up 12 points, closing at 13,047.71. The Nasdaq and S&P were not so lucky: the indexes closed down six points and two points, respectively.
Adding to concerns over slowed manufacturing in China, Europe and the U.S., investors Wednesday seemed to be reacting to a lower earnings forecast from global shipper FedEx Tuesday, the Wall Street Journal reports.
The head of the European Central Bank, Mario Draghi, gets another chance on Thursday to explain how the bank plans to rescue the 17 countries that use the euro from financial disaster. Earlier this year, he vowed to do “whatever it takes” to hold the eurozone together.
Copyright 2012 ABC News Radio