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The US market recovered from Tuesday’s losses on Wednesday as it climbed 7.05, or 0.47%, to 1,518.09.
However, this did little to offset Tuesday’s 226 point drop off of the Dow Jones industrial index.
As figures of falling house sales were released business confidence and the value of the US dollar look set to remain shaky.
But all-in-all it was a good day on Wall Street as Amazon.com and Boeing posted encouraging profits for the last quarter.
The eagerly-awaited housing figures showed a 3.8 percent fall off in house sales to bring them to the lowest for four years. Mortgage applications are also down to a five-month low.
German company Siemens AG and drug manufacturer Merck & Co announced acquisitions that also helped to boost the market.
The index has failed to maintain any modicum of consistency in the last couple of weeks, gaining and losing ground on alternate days.
15:51
Posted on Jul-27-2007
