May 23, 2013
US stocks edge lower; European shares fall
Wall Street eased today after the Dow posted its best run in nearly three years, but hopes tomorrow's key jobs report would underscore signs of strength in US economy kept investors engaged.
The Dow Jones industrial average was down 34.96 points, or 0.29 percent, at 12,010.72. The Standard & Poor's 500 Index was down 2.25 points, or 0.18 percent, at 1,244.71. The Nasdaq Composite Index was down 3.11 points, or 0.12 percent, at 2,617.23.
Meanwhile, European equities fell in choppy trade as a key index failed to break an important resistance level and weak macro economic data prompted profit taking after sharp gains in the previous session.
The pan-European FTSEurofirst 300 index of top shares closed down 0.6 percent at 976.02 points after jumping 3.6 percent yesterday following the move by the central bank.
In Asia, the Nikkei average surged to a two-week high today after the world's central banks took coordinated action to ease funding strains among banks caused by the debt crisis in Europe.
The benchmark Nikkei rose 1.9 percent to 8,597.38, climbing above its 25-day moving average around 8,577. The broader Topix index gained 1.6 percent to 740.01.