Stocks closed the week on a flat note $CMCSA:xnas
- Published: 29 October 2012
- Markets ended the week relatively flat but were down sharply over the course of the week as the US Presidential Election draws nearer and the threat of the pending US economic 'fiscal cliff' draws closer
- The Dow fell 1.77% for the week, the S&P500 fell 1.48% and the NASDAQ was 0.59% weaker. All major S&P sectors finished in the red with material and energy stocks leading the losses. Du Pont led the losses on the Dow
- US GDP surprised to the upside in the Q3 rising at an annualised rate of 2.0%. Consumer Sentiment also grew to its highest level in five years after it rose from 78.3 to 82.6 in the month of October
- Comcast rallied 3.3% after the stock met earnings expectations and managed to post a slightly better than expected revenue number
- Amazon had rallied 6.87% during the session but a Q1 loss of $274M, the companies first quarterly loss in five years saw it weaken in the after market
- DOW +0.03%, S&P500 –0.07% and NASDAQ +0.06%
- USD was weaker as better US GDP saw risk appetite increase. AUD higher
- Gold prices was relatively flat Crude rose on better GDP data up 1.2%
