Dow ends three day rally to close lower $AUDUSD
- Published: 09 October 2012
- The Dow ended its three day winning streak to close lower on thin volumes due to the continuing economic concerns facing the worlds major countries. European debt concerns will again take the spot light with German Chancellor Angela Merkel to visit the Greek capital Athens for further talks
- Bond markets were closed overnight in the US to celebrate Columbus Day
- Energy led the S&P500 higher while techs and telecoms lagged on the index
- Asian growth which has been a major contributor to world growth continues to slow down with the World Bank decreasing growth expectations for 2013
- Earnings season is now well and truly in focus with Alcoa to unofficially kick off proceedings tonight when it reports to the market. Analysts are expecting this earnings season to be subdued compared to previous quarters
- Netflix jumped 10.46% to lead the S&P500 higher after Morgan Stanley raised their rating on the online multimedia streaming company
- DOW –0.19%, S&P500 –0.35% and NASDAQ –0.76%
- USD was generally stronger in thin trading, AUD bucked the trend and rallied. Gold was lower with investors taking profits and Crude crept higher
