AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Wall Street was lower on Thursday, snapping a three-day rally, after a slump in Wal-Mart weighed on retail stocks and oil prices retreated. Seven of the 10 major S&P sectors were lower, led by a 0.7 percent drop in the financial sector, which led the recent rally. Crude oil prices, whose performance have often dictated stock movements, dropped from session highs after a report showed US crude stocks rose last week.
Wal-Mart slumped 4 percent to $63.46 after the retailer reported a lower quarterly profit and gave a lacklustre sales outlook. The stock was the biggest drag on the Dow. Limiting the losses was IBM, which rose 5.4 percent to $132.91 after Morgan Stanley upgraded the stock to "overweight" saying the transformation to a cloud-focused business was not priced in.
The three-day rally, led by beaten-down sectors such as financials, materials and energy, boosted the benchmark S&P 500 5.3 percent. But such has been the rout since the start of the year that the index is still down nearly 6 percent in 2016. "I think today, at least up until this point, is somewhat of a day of pause after a quite strong three-day rally due to mostly short covering," said Ryan Larson, head of US equity trading at RBC Global Asset Management in Chicago.
At 12:37 pm ET (1737 GMT), the Dow Jones industrial average was down 8.18 points, or 0.05 percent, at 16,445.65. The S&P 500 was down 2.9 points, or 0.15 percent, at 1,923.92 and the Nasdaq Composite index was down 18.22 points, or 0.4 percent, at 4,515.84. Apple was down 1.1 percent at $97 and was the biggest drag on the S&P 500 and Nasdaq.

Copyright Reuters, 2016

Comments

Comments are closed.