MARKET ROUNDUP
U.S. STOCKS FALL AS HOUSING DATA OVERSHADOW DURABLE GOODS
As
a drop in pending home sales overshadowed a rise in durable- goods
orders while investors watched earnings. The S&P 500 (SPX) fell 0.2
percent to 1,500.18 at 4 p.m. in New York. The equity benchmark closed
above 1,500 last week for the first time since December 2007 after an
eight-day rally. The Dow Jones Industrial Average lost 14.05 points, or
0.1 percent, to 13,881.93 today. A separate report showed orders for
durable goods in the U.S. rose 4.6 percent in December after a 0.7
percent gain the prior month. The median forecast of 76 economists
surveyed by Bloomberg called for a 2 percent gain.
Oil Trades Near Four-Month High as OPEC Sees No Price Collapse
After
orders for durable goods in the U.S. jumped and OPEC Secretary-General
Abdalla El-Badri said crude prices are unlikely to drop this year. Crude
for March delivery was at $96.50 a barrel, up 6 cents, in electronic
trading on the New York Mercantile Exchange at 10:45 a.m. Sydney time.
The average volume of all contracts traded was 50 percent below the
100-day average. Futures rose to $96.44 yesterday, the highest since
Sept. 17.
Jupiter Securities Research - 29 January 2013
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