Monday, April 25, 2011
Inflation jitters interrupt Wall Street rally
In the lightest volume session of the year, US stocks fell after a lowered outlook from Kimberly-Clark increased concerns about higher commodity costs squeezing profits in coming quarters.
The Dow Jones industrial average dropped 26.11 points, or 0.21 percent, to end at 12,479.88. The Standard & Poor's 500 Index shed 2.13 points, or 0.16 percent, to 1,335.25. But the Nasdaq Composite Index gained 5.72 points, or 0.20 percent, to close at 2,825.88.
The Dow Jones industrial average dropped 26.11 points, or 0.21 percent, to end at 12,479.88. The Standard & Poor's 500 Index shed 2.13 points, or 0.16 percent, to 1,335.25. But the Nasdaq Composite Index gained 5.72 points, or 0.20 percent, to close at 2,825.88.
Japan's Nikkei stock average inched down in thin trade as investors grew cautious ahead of key corporate earnings reports and a closely watched US Federal Reserve meeting this week but buoyant shipping stocks provided support.
The benchmark Nikkei average closed down 0.1 percent at 9,671.96, while the broader Topix fell 0.2 percent to 840.68.Volume fell to its lowest this year, with only 1.46 billion shares changing hands on the Tokyo Stock Exchange's first section.
Traders noted that activity would likely be subdued as many major European markets remain closed over the long Easter weekend.
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