MARKET ROUNDUP (Source Bloomberg)
Most U.S. Stocks Fall as World Bank Offsets Apple Rally;
as a cut in the World Bank’s growth forecasts offset a rally in Apple
(AAPL) Inc. as investors watched earnings. Three stocks retreated for
every two rising on U.S. exchanges at 4 p.m. New York time. The Standard
& Poor’s 500 Index advanced less than 0.1 percent to 1,472.63. The
Dow Jones Industrial Average declined 23.66 points, or 0.2 percent, to
13,511.23. About 5.6 billion shares changed hands on U.S. exchanges, or
8.6 percent below the three-month average. The World Bank cut its global
growth forecast for this year as austerity measures, high unemployment
and low business confidence weigh on economies in developed nations.
German Chancellor Angela Merkel’s government cut its growth forecast for
Europe’s biggest economy. Luxembourg Prime Minister Jean- Claude
Juncker said the strength of the euro poses a threat to the region’s
economy.
Oil Trades Near Four-Month High After Crude
Stockpiles Decline; as stockpiles unexpectedly declined and petroleum
consumption rose in the U.S., the world’s
biggest crude-consuming nation. West Texas Intermediate futures were
little changed after climbing the most in two weeks yesterday. U.S.
crude supplies slid 951,000 barrels last week, Energy Department figures
show. They were forecast to increase 2.2 million barrels, according to a
Bloomberg News survey of analysts. Fuel consumption climbed from the
lowest level since March, the report showed. Crude for February delivery
was at $94.08 a barrel, down 16 cents, in electronic trading on the New
York Mercantile Exchange at 10:43 a.m. Sydney time. The contract
advanced 1 percent to $94.24 yesterday, the most since Jan. 2 and the
highest close since Sept. 18. Prices dropped 7.1 percent last year.
Jupiter Securities Research - 17 January 2013
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