US markets are still low

US markets are still low
# 20 October 2008 08:21 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. US stocks lost ground again in more volatile trade on Friday as investors turned cautious ahead of the weekend and erased early gains supported by strong results from Google.
The Dow Jones Industrial Average shed 127.04 points, or 1.41 per cent, settling at 8,852.22, capping a tumultuous week.
Broader stock indicators showed more modest declines. The Standard & Poor’s 500 index fell 5.88, or 0.62 percent, to 940.55, while the Nasdaq composite index fell 6.42, or 0.37 percent, to 1,711.29.
For the week, the Dow rose 4.75 percent, the S&P 500 added 4.6 percent, while the Nasdaq rose 3.75 percent. But the gains follow the previous week’s huge losses, when the Dow dropped 18.2 percent, the S&P 500 fell 15.3 percent and the Nasdaq lost 15.3 percent.
The dollar was mixed against other major currencies, while gold prices fell.
Chesapeake Energy Corp. rose $2.12, or 11.6 percent, to $20.47, while XTO Energy Inc. rose $2.08, or 7 percent, to $31.68.
Late Thursday, Google Inc. posted a 26 percent increase in third-quarter profit. Google rose $19.52, or 5.5 percent, to $372.54; early Thursday, the Internet company’s stock had fallen to a three-year low.
In Europe, Britain’s FTSE index rose 5.22 percent, Germany’s DAX index rose 3.43 percent, and France’s CAC-40 rose 4.68 percent.
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