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Wall Street closed mixed but USD down; Apple's value over $700B

FXStreet (San Francisco) - The US stocks market closed mostly mixed on the day as investors welcomed a better than expected US GDP in the Q3 while digested an unexpected drop in consumer confidence in November. Concerns with the lack of confidence ahead of holiday season.

The US GDP was revised up to 3.9% in Q3 from an initial figure of 3.5%. The consumer confidence fell to 88.7 in November; below expectations and its lowest number since June. October data was revised to 94.1 from 94.5. Richmond Fed Mfg index was down to 4 in November; lowest since June. Services component dropped to 25; Manufacturing shipments fell to 1 from 23.

The Dow Jones declined 2.96 points or 0.02% to finish the day at 17,814.94. The S&P 500 eased 2.38 pts or 0.12% to end at 2,067.03; while the Nasdaq Composite advanced 3.36pts or 0.07% to 4,758.25.

The Technology sector (+0.44%) led gains followed by Industrials (+0.35%) and Utilities (+0.27%). On the other hand, energy shares (-1.15%) pressured market to the downside, followed by telecommunication (-0.20%). Semiconductors rallied 2.24% on the day.

Small caps declined around 0.10% on the day as the Russell 2000 declined 1.22 points to 1,185.75. Apple shares $AAPL rose to $119.75 high, making the company value in excess of $700 billion.

Big movers were Facebook $FB (+2.16%), Comcast $CMCSA (+2.90%) and United Technologies Corp. $UTX (+2.71%). Among others, $KMP, $ABBV and BRK.B reached fresh 52-week highs.

Earlier in the day, Bank of America $BAC added Comcast to its list of best investment ideas. United Technologies was upgraded to outperform for Wells Fargo $WFC. Banco Santader $SAN appointed Jose Antonio Alvarez as new CEO. ING bank $ING informed its intentions to cut 1,700 jobs and to invest €200 million in technology in two years.

On earnings, Tiffany $TIF missed earnings by $0.01 to an EPS of $0.76 in Q3. However, Campbell Soup beat earnings estimates by $0.02 to FQ1 EPS of $0.74; while late on the day Hewlett-Packard $HPQ reported in-line Q4 EPS of $1.06.

On commodities, crude oil collapsed to lows since November 14 at $73.85 amid news from the OPEC mini meeting between Russia, Saudi Arabia, Mexico and Venezuela. Countries will monitor oil prices and will meet regularly. However, no agreement on any output cut.

Gold initially fell to 1,190.40 after US GDP, however the metal bounced off to close above 1,200.00 amid USD weakness.

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