Trepid US markets end the session slightly down $T:xnys
- Published: 31 July 2012
- US markets ended a two day winning streak to close slightly down as key central bank meetings and US data announcements approach. The market is looking to the 2 day Fed meeting on Tuesday and Fridays Non Farm Payrolls
- The market took a more conservative approach overnight with the telco's, consumer staples and utilities sectors performing better
- Healthcare stocks were weaker with Progenics Pharmaceuticals Inc and Salix Pharmaceuticals Ltd falling 50.1% and 13% respectively after the FDA rejected their bid for pending products and asked for more information
- Apple rallied to push the $600 mark as unconfirmed reports suggested that it will hold an event on September 12 to unveil the new iPhone & iPad mini
- Blue Chip's Wal-Mart and AT&T hit year long highs both adding 0.8% & 0.6%
- Leading the moves on the Dow was JPM (-2.03%) and HPQ (-1.64%)
- DOW –0.02%, S&P500 –0.05% and NASDAQ –0.41%
- USD continues to weaken against the AUD as stimulus hopes continue
- Gold settles at USD1619.00 on Fed anticipation and Crude fell below USD90
