Major Indices Slide Off Highs Despite Postive Manufacturing Data and Remarks from the Fed

On Monday, US indices finished mostly higher after Ben Bernanke of the Fed made comments on monetary policy and released reports that manufacturing data was better-than-expected. Bank of America (BAC) and IBM (IBM) led the Dow Jones higher while Apple (AAPL) caused Nasdaq to drop slightly by the end of the day. Crude-oil prices gained about 29 cents on the day. News was released that 3M (MM) will be acquiring Ceradyne (CRDN) for $860 million.
The US dollar made gains against the euro but fell to the Japanese yen. Data on Monday showed that the euro zone has hit record jobless rates, underscored by the growing economic and financial problems.

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Published on Oct 1, 2012
By InvestorGuide Staff

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