US markets ended flat led by financial and tech stocks after a rocky session. Financials ended mostly higher as investors were encouraged about government plans to stabilise banks. Treasury Secretary Timothy Geithner stated that the plan to deal with toxic assets was nearing completion.
The Dow Jones ended at 6,930.40, up 3.91 points or 0.1%. The S&P 500 Index rose just 1.76 points or 0.2% to end at 721.36, while the Nasdaq Composite Index closed at 1,371.64 after adding 13.36 points or 1%.
Stock pick
JP Morgan climbed 4.6% after a statement from its CEO Jamie Dimon that the bank was profitable in January and February bolstering speculation that the worst of the banking crisis may be over.
Hewlett-Packard gained 5.8% after UBS analysts recommended buying the shares.
Commodity check
Gold rose on Wednesday rebounding from the lowest price in a month as the slumping dollar enhanced the appeal of the precious metal as an alternative investment. Silver gained the most in two weeks.
Crude oil dropped more than USD 3 a barrel on further signs of weak global demand and rising inventories in the United States.
Source: Moneycontrol.com
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