Markets trade in a tight range to close flat $TGT:xnys
- Published: 16 August 2012
- Markets closed the flat with the Dow down slightly after a lacklustre session which saw the Dow trad in one of its narrowest ranges for the year
- Consumer Prices were flat for a second month in July adding weight to the possibility that the Federal Reserve will step in with further stimulatory policy
- Manufacturing in New York State unexpectedly contracted for the month of August for the first time since October 2011, however US Home Builder sentiment rose to its highest level in over five years
- Target rallied 1.77% after it posted flat earnings but boosted its full year outlook due to stronger sales in its expanded food sections
- Youth orientated clothing retailer Abercrombie & Fitch rallied 8.97% to lead the S&P500 higher after topping guidance and boosting its share buyback
- Agricultural equipment maker John Deere fell 6.28% after it missed earnings
- DOW –0.06%, S&P500 +0.11% and NASDAQ +0.46%
- USD was stronger pushing the EUR to its lowest level since the 30th of June
- USD was stronger on stimulus hopes and Crude closed above USD94.00 p/b
