Thursday, February 23rd, 2012

U.S. Stocks Declined Halting S&P’s 4th Weekly Gain

0

U.S. stocks retreated, paring a 4th successive weekly rally for the Standard & Poor’s 500 Index, while Treasuries rallied up following the U.S. economy grew up little less than estimated. The euro surged amidst optimism that Greece was advancing forth in debt-restructuring discussions with bondholders.

The S&P 500 dropped by 0.2% to settle at 1,316.33 as of 4 p.m. in New York’s time, leaving it up below 0.1% for the week, while 10-year Treasury yields plunged 4 basis points. The S&P GSCI Index of commodities advanced by 0.3% whereas natural gas and gasoline shot up by a minimum of 2.7%. The euro advanced by 0.9% to $1.3229, recording its 6-week high, whilst Italy’s ten-year note yield dropped 15 basis points to 5.90% following borrowing costs plunged during the bill auction.

U.S. equities declined for a 2nd day following the S&P 500 touched the top level since July, as the Dow also touched its highest level since May. The Standard & Poor 500 is up by 4.7% in this year and has recovered almost 20% from last year’ low in October.

Ford Motor Co. dropped 4.2% today following 4th quarter profit didn’t match with the estimates of analysts, as overseas operations pulled down the outcome. Juniper Networks Inc. (JNPR) plunged by 3% as the 2nd largest manufacturers of computer-networking equipment estimated sales and profit missed forecasts. Starbucks Corp. (SBUX) fell by 1%, after it cut estimate for profit not including some items to a range of $1.78 to $1.82 per share for this fiscal year, in contrast with analysts’ average forecast of $1.83.

VN:F [1.9.13_1145]
Rating: 0.0/5 (0 votes cast)
VN:F [1.9.13_1145]
Rating: 0 (from 0 votes)

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!