S&P500 snapped three day winning streak $GOOG:xnas
- Published: 19 October 2012
- Markets ended their three day winning streak to finish slightly lower overnight. Driving the subdued session was some poor earnings results and the continuing concerns about Europe and the economy
- Also driving market sentiment overnight was the earnings result from Google which fell short of market expectations. Earnings from the companies core search products were weaker and the erroneous early release of the companies earnings figures put the market into a spin and saw the stock fall off as much as 10% at one point before closing down 8.01%
- Morgan Stanley the sixth biggest bank in the US reported earnings that were better than market expectations, however the stock still fell 3.79%
- Travelers rallied 3.59% after they posted earnings that beat expectations
- Verizon rallied 2.37% after posting better than expected earnings overnight
- DOW –0.06%, S&P500 –0.24% and NASDAQ –1.01%
- USD was slightly stronger on Spanish concerns, the AUD was slightly down
- Gold was softer against USD strength and Crude flattened on higher supplies and weaker US jobless claims data. Spot Crude was down 0.1%
