Wall Street fluctuated throughout the day till closing as investors are focusing on earnings amid the absence of fundamentals from companies including Coach Inc. , International Business Machines Corp. and Norfolk Southern Corp. Now Coach, the largest U.S. luxury handbag maker, slumped 6.9 percent after sales missed the market projections. Plus IBM plummeted by 3.3 percent as revenue declined for a seventh consecutive quarter amid weaker demand for servers while that Norfolk Southern , the second-largest U.S. eastern railroad, climbed 6.1 percent on better than projected fourth-quarter profit results. Whereas on the other hand we have to keep in mind that 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 this year. 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 0.25% to 16373.34 points, and NASDAQ rose by 0.41% to 4243.00 points. Standard and Poor's climbed faintly by 0.06% to reach 1844.85 points, as of 16:15 EST .
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Quiznos Files for Chapter 11
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Some California Cities Seeking Water Independence