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Wall Street close in mixed colors

January 22, 2014

U.S. shares closed in mixed colors on Tuesday, following Martin Luther King holiday, with investors focusing on earnings amid the absence of fundamentals. Delta Airlines , the third-biggest U.S. carrier, posted a fourth-quarter profit that more than doubled. Verizon , the second-largest U.S. phone company, reported better than forecast earnings. Eyes will focus on fourteen companies in the S&P which will report their financial results today. The Fed announced on Dec. 18 that it will start tapering stimulus by $10 billion starting from this month till nothing by the end of 2014. Therefore, investors will emphasis economic data on the one hand and upcoming Fed meeting on the other to track the pace at which the Fed would cut its monthly bond purchases. As of 16:15 EST , Dow Jones shed 0.27% to 16414.44 points, and NASDAQ rose by 0.67% to 4225.76 points. Standard and Poor's surged 0.28% to reach 1843.80 points, as of 16:15 EST .

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Source: Financial Markets

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