Dow falls for fifth straight day
14-01-2009
The Dow fell for the fifth straight day on Tuesday as investors fretted over what many expect will be a gloomy earnings season. But the S&P 500 and Nasdaq ended higher as rising oil prices lifted energy shares and biotechnology companies gained as investors bet they will be among the few sectors with growing earnings. The Dow Jones industrial average was down 25.41 points, or 0.30 percent, at 8,448. The Standard & Poor's 500 Index rose 1.53 points, or 0.18 percent, to 871. The Nasdaq Composite Index was up 7.67 points, or 0.50 percent, at 1,546. Trading was volatile, with indexes moving back and forth. Oil prices rose getting a modest lift from a US cold wave, following hefty losses stemming from concerns about weak energy demand amid the global economic downturn. New York's main contract, light sweet crude for delivery in February, rose 19 cents to close at US$37.78 a barrel. Gold and the US dollar were also trading higher.
