U.S. Stocks edged down by opening Tuesday’s trading session, as European leaders’ long struggle to cool Europe's debt woes failed to lure outraging markets ahead of the Fed’s Chairman Ben Bernanke’s testimony before the U.S Congress Joint Economic Commission.
Now, American Airlines Corp gained 13.89 percent, after several analysts said company is not likely to be filed for bankruptcy after being upgraded to “market outperform” from “market perform” by Rodman & Renshaw.
On the other hand, McDermott International plunged 6.59 percent, after being downgraded at goldman Sachs Group Inc, while SodaStream International rose 2.54 percent after being upgraded at Deutsche Bank AG.
Moreover, Yahoo! Inc added 3.51 percent, following news about a possible takeover from Alibaba Group Holding.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, steadied from today's opening level of 79.57 to currently trade at 79.60 recording its highest level at 79.82 and its lowest at 79.40.
Gold prices dropped to reach $1643.38 since the opening level of $1666.92. Oil declined to reach $7600 after opening at $76.32 per barrel.
As for stocks, the most sectors that shed points the most leading the decline in the DJIA were the Industrials, Oil & Gas and Consumer Services shares respectively, while in the S&P 500 index most dropping sectors were the Oil & Gas, Financials and Industrials shares respectively.
The Dow Jones Industrial Average traded lower by 184.36 points or 1.73 percent at 09:51 New York time reaching 10470.94 levels, while the S&P 500 index traded at 1081.13 as it dropped by 18.10 points or 1.65 percent, meanwhile the NASDAQ Composite index declined 22.89 points or 0.98% to trade at 2312.94 levels.