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US Stocks Descend for Third Straight Session; Facebook Rise

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US Stocks Descend for Third Straight Session; Facebook Rise

December 13
16:07 2013

us stock.jpg newNew York, Friday, December 13 –  Since ameliorating economic statistics encouraged speculation that the Federal Reserve will trim stimulus as soon as the coming week, US stocks slipped a third straight session on December 12, making the S& P 500 to reach at a one-month low.

Detailing it further, as soon as RBC Capital Markets reduced its rating on the stock, Oracle Corporation (NYSE: ORCL) plummeted by 2.8 percent. Widening a 3-day slump to 1.8 percent post ending at a record on the first working day of this week, the S&P 500 slipped by 0.4 percent to 1,775.50.

In addition to this, by 104.10 points, or 0.7 %, the Dow Jones industrial average skidded to 15,739.43, that’s too a one-month low. Being 3.3 percent on top of the three-month average, nearly 6.3 billion shares traded on US exchanges.

The Fed will perhaps begin decreasing its $85 billion a month bond buying program at its meeting that will take place on Dec 17 to18. By 1.8 percent, Cisco Systems, Inc (NASDAQ: CSCO) slipped to $20.51 for a fourth day of losses that made the stock to be at its bottommost for the first time after May.

On the other hand, by 5 percent, Facebook, Inc (NASDAQ: FB) increased to $51.83. More to the point, by 0.4 percent, JPMorgan Chase & Co (NYSE: JPM) increased to $56.31. By 1.5 percent, American International Group, Inc (NYSE: AIG) ameliorated to $49.42.

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