Markets close the week slightly higher but were down overall $DIS:xnys
- Published: 12 November 2012
- US stocks closed Friday's session on a better note but were down for the week after investors took a cautious approach due to the US Presidential Election. Attention has now turned to the pending political debate surrounding the US Fiscal Cliff and the potential for the US economy to re-enter recession if a deal is not struck
- US financials rallied after it was announced the Basel III accord would be delayed
- Disney was weaker dropping 5.96% to USD47.06 per share after the entertainment giant released a worse than expected earnings report on Thursday
- Groupon fell 29.59% to USD2.76 per share as poor earnings added to the stock's recent losses. Over the last year the stock has fallen 84%
- JC Penny fell 4.84% after it also reported earnings that fell short of expectations
- Kayak Software rallied 27.80% after it was acquired by Priceline.com for USD1.8Bil
- DOW +0.03%, S&P500 +0.17% and NASDAQ +0.32%
- USD was stronger after weak EUR Industrial Production. The AUD remained steady
- Gold was modestly weaker and Crude rallied on better US Consumer Sentiment
