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Coutts- US close: Dow pulls back from record as World Bank cuts forecasts(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 12 June 2014 Release date- 11062014 - US close: Dow pulls back from record as World Bank cuts forecasts. Dow pulls back from record high - World Bank cuts growth forecasts - Airlines, housebuilders provide a drag Dow Jones: -0.60% Nasdaq: -0.14% S&P 500: -0.35% US stock markets declined on Wednesday as traders turned cautious after a five-day winning streak for the Dow Jones Industrial Average. The World Bank also added to the selling pressure by downgrading its growth forecasts for the global economy. Weakness among housebuilders and airline stocks provided a drag on indices, with the Dow retreating from a fresh record. 'Investors are booking some profit after a strong run once again in equities, helping to remove some of the froth associated with an overbought market,' said David White, Trader at Spreadex. The Dow dropped 0.6% to finish at 16,844 after setting an all-time high of 16.945.92 on Tuesday. The S&P 500 fell 0.35% while the Nasdaq inched 0.14% lower. The World Bank on Wednesday downgraded its 2014 growth forecast for the global economy from 3.2% to 2.8%, saying that developing nations are headed for a year of 'disappointing growth'. Weakness in the first quarter across the developing world has delayed an expected pickup in economic activity, according to the World Bank's Global Economic Prospects report, published twice every year. Airlines drop on Lufthansa readacross Airline stocks dropped after a profit warning from German group Deutsche Lufthansa, which said that it would not hit earnings guidance for the next two years. US-listed Delta Air Lines and American Airlines were both firmly lower by the end of trade. The cancellation of Emirates Airlines' major order for 70 new Airbus also dampened sentiment in the aviation industry. Housebuilders were also registering declines today with heavyweights DR Horton, PulteGroup and Lennar all finishing lower. Biopharmaceutical group Orexigen Therapeutics was a heavy faller after regulators said they would take longer than expected to analyse its new weight-loss drug. Anadarko Petroleum gained after oil and gas company was linked to M&A rumours regarding a possible takeover. Consumer electronics group Synaptics surged nearly 30% as it impressed with the acquisition of smartphone and tablet chips Renesas SP Drivers. S&P 500 - Risers Micron Technology Inc. (MU) $30.99 +5.02% H&R Block Inc. (HRB) $32.15 +4.62% Facebook Inc. (FB) $65.78 +4.61% Anadarko Petroleum Corp. (APC) $108.32 +4.23% Citrix Systems Inc. (CTXS) $64.59 +2.92% Chesapeake Energy Corp. (CHK) $30.03 +2.77% United States Steel Corp. (X) $24.49 +2.68% Sandisk Corp. (SNDK) $99.66 +2.59% Amazon.Com Inc. (AMZN) $335.20 +2.35% Gilead Sciences Inc. (GILD) $80.82 +2.30% S&P 500 - Fallers Cognizant Technology Solutions Corp. (CTSH) $47.30 -5.06% Exelon Corp. (EXC) $35.75 -3.79% E*TRADE Financial Corp. (ETFC) $20.48 -3.17% Delta Airlines Inc. (DAL) $40.71 -2.89% Genworth Financial Inc. (GNW) $17.47 -2.84% PPL Corp. (PPL) $33.72 -2.80% National Oilwell Varco Inc. (NOV) $76.38 -2.65% Jacobs Engineering Group Inc. (JEC) $54.99 -2.57% Goodyear Tire & Rubber Co. (GT) $26.17 -2.50% PulteGroup Inc. (PHM) $19.63 -2.48% Dow Jones I.A - Risers Cisco Systems Inc. (CSCO) $25.05 +1.01% Merck & Co. Inc. (MRK) $58.81 +0.55% Exxon Mobil Corp. (XOM) $101.95 +0.48% Unitedhealth Group Inc. (UNH) $80.17 +0.45% Intel Corp. (INTC) $27.93 +0.07% Dow Jones I.A - Fallers Boeing Co. (BA) $134.10 -2.30% Nike Inc. (NKE) $75.14 -1.53% Home Depot Inc. (HD) $79.81 -1.15% International Business Machines Corp. (IBM) $182.25 -1.11% JP Morgan Chase & Co. (JPM) $57.27 -1.09% General Electric Co. (GE) $27.15 -0.95% Johnson & Johnson (JNJ) $103.32 -0.75% Visa Inc. (V) $212.68 -0.73% E.I. du Pont de Nemours and Co. (DD) $68.97 -0.72% United Technologies Corp. (UTX) $118.30 -0.70% Nasdaq 100 - Risers Micron Technology Inc. (MU) $30.99 +5.02% Facebook Inc. (FB) $65.78 +4.61% Illumina Inc. (ILMN) $177.49 +3.58% Citrix Systems Inc. (CTXS) $64.59 +2.92% Baidu Inc. (BIDU) $176.51 +2.87% Sandisk Corp. (SNDK) $99.66 +2.59% Amazon.Com Inc. (AMZN) $335.20 +2.35% Gilead Sciences Inc. (GILD) $80.82 +2.30% Priceline Group Inc (PCLN) $1,248.72 +2.11% Intuitive Surgical Inc. (ISRG) $382.38 +2.01% Nasdaq 100 - Fallers Cognizant Technology Solutions Corp. (CTSH) $47.30 -5.06% Vodafone Group Plc ADS (VOD) $33.33 -4.58% Biogen Idec Inc. (BIIB) $310.72 -2.34% Bed Bath & Beyond Inc. (BBBY) $60.76 -2.24% Dollar Tree Inc (DLTR) $54.28 -2.20% Discovery Communications Inc. Class A (DISCA) $78.68 -2.08% Ross Stores Inc. (ROST) $67.40 -1.92% Automatic Data Processing Inc. (ADP) $78.54 -1.83% Vimpelcom Ltd Ads (VIP) $8.72 -1.80% Liberty Global plc Series A (LBTYA) $44.40 -1.62% BC (c) 2014 Electronic News Publishing - |