N.Y. stocks almost flat, Dow snaps 8-day winning streak.
New York stocks ended almost flat Thursday, with the key Dow index falling back for the first time in nine trading days on poor earnings results of some U.S. companies.
The 30-issue Dow Jones Industrial Average, which edged up 6.74 points Wednesday, dropped 10.60 points to end at 12,229.29.
In contrast, the tech-heavy Nasdaq Composite Index, which lost 7.98 points the previous day, went up 1.38 points to 2,790.45.
After opening lower, stocks traded mostly in negative territory and the Dow briefly shed more than 80 points led by a sharp drop in shares of networking equipment maker Cisco Systems, which reported a net profit decline, market analysts said.
Stocks later erased some of their early losses on dip-buying, with the Nasdaq managing to eke out a slight gain, they said.
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|Publication:||Japan Weekly Monitor|
|Date:||Feb 14, 2011|
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