Wall Street did start off on a nervous note but markets recovered some ground in afternoon trade and the Dow finished with a small gain. Investors rewarded JP Morgan for its weekend move on Bear Stearns. But punished other banks on conerns that they might be over valued.
General motors hit a 52 week low on demand concerns and a strike among one of its suppliers
In economic news Homebuilders sentiment remained at historic lows. Industrial production slipped 0.5 percent in February. Meanwhile, the US Current account deficit unexpectedly narrowed in the fourth quarter.
The Dow gained 21.16 points, or 0.18%, to 11,972.25. The Standard & Poor's 500 index was down 11.54 points, or 0.90%, to 1,276.60. The Nasdaq composite index declined 35.48 points, or 1.60%, to 2,177.01.
Source : MoneyControl
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