Despite primarily positive quarterly financial results from reporting companies this week, concerns over China’s interest rate and currency value kept trading restrained. The Dow Jones Industrial Average closed on Friday down 14.38 points to 11,132.19 which is still a gain over its Friday, October 15th closing of 11,062.78. The Nasdaq was up 19.72 points to 2,479.39 and the S&P dropped 2.82 points to 1,183.08.
European markets were down while Asian markets were mixed, Japan’s Nikkei the only index with gains. This week was filled with mixed economic messages for Europe and Asia as the International Monetary Fund predicted 2.25 percent growth for Europe in 2010 and China’s Central Bank announced that they would be increasing the country’s key lending and savings deposit rate. Furthering the global economic concerns was Treasury Secretary Timothy Geithner’s prompting for other countries to stop trying to curb the growth of their currencies and control volatility.
Companies releasing quarterly financials today: Honeywell International Inc (NYSE: HON), Verizon Communications Inc (NYSE: VZ), AirTran Holdings Inc (NYSE: AAI), Exelon Corporation (NYSE: EXC).
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