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U.S. Market Attempts Recovery |
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Author: Elena Todorova
123jump.com
Last Update: 12:54 PM EDT May 30 2007
U.S. market averages recovered from earlier weakness to trade mixed. Investors shrugged off a heavy sell-off in China, sparked by a tripling of taxes on stock trades. The Dow traded lower, pressured by Merck & Co., down 2%, Intel, down 1.5%, and Pfizer, falling 1%. Caterpillar helped limit losses, posting a gain of 2.9% after rival Joy Global issued an upbeat guidance. In the tech sector, IBM advanced 0.6% and Microsoft added 0.3%. |
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