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US market fluctuate, European indices drop

09 January 2009 07:35 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Wall Street shares shook off opening losses and closed mixed on Thursday as investors looked past weak sales reports from the retail sector and other grim data.
The Dow Jones industrial average was down 27.24 points, or 0.31%, to 8,742.46 on Thursday. The Standard & Poor’s 500 Index was up 3.08 points, or 0.34%, to 909.73. The Nasdaq Composite Index gained 17.95 points, or 1.12%, to 1,617.01.
Among key stocks, Wal-Mart tumbled 7.43 percent to 51.38 dollars after marking down its forecast, citing weak international sales and higher expenses.
Elsewhere in the retail space, Macy’s shed 3.36 percent to 10.93, Costco rose 1.27 percent to 17.54, Target increased 1.38 percent to 37.52 and The Gap shed 4.72 percent to 12.92.
The tech sector led the gainers. Computer storage giant EMC rallied 6.35 percent to 11.89 dollars a day after announcing a reorganising to stay competitive in the economic downturn.
In London, the FTSE 100 index of leading shares slipped 0.05 percent to 4,505.37. The Paris CAC 40 was down 0.65 percent at 3,324.33 and in Frankfurt the DAX lost 1.17 percent at 4,879.91.