MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Fall as Budget Debate Concern Erases Rally; as concern about the federal budget debate erased a rally led by Home Depot (HD) Inc. The S&P 500 dropped 0.4 percent to 1,374.53 at 4 p.m. in New York, after rallying as much as 0.6 percent earlier in the day. The Dow Jones Industrial Average decreased 58.90 points, or 0.5 percent, to 12,756.18. Volume for exchange-listed stocks in the U.S. was 6.2 billion shares, 3.7 percent above the three- month daily average.
European Stocks Climb on Spain Bailout Speculation; as yields on benchmark Spanish bonds slipped amid speculation that the country’s government will soon ask for a bailout. France’s CAC 40 (CAC) rose 0.6 percent, while the U.K.’s FTSE 100 advanced 0.3 percent. Germany’s DAX climbed less than 0.1 percent.
Oil Drops for Second Day as IEA Lowers Demand Forecast; as the International Energy Agency cut its demand estimate and U.S. inventories were expected to reach a three-month high. Prices fell 0.2 percent after the IEA lowered its forecast for the fourth quarter for a second time, citing weakness in Europe’s economy and disruption to U.S. fuel delivery by Hurricane Sandy. U.S. oil inventories probably rose to 377.3 million barrels last week, according to a Bloomberg survey. Oil erased losses earlier as U.S. stocks rallied. Crude for December delivery slid 19 cents to settle at $85.38 a barrel on the New York Mercantile Exchange after climbing to $85.95. Prices are down 14 percent this year.
Source:Jupiter Securities Research, 14 November 2012
No comments:
Post a Comment