S&P500 posts its seventh straight week in the black $XAUUSD
- Published: 07 March 2013
- Markets closed the last session of the week on a mixed note. However the S&P500 logged another positive weekly gain. This extended the index's winning streak to seven weeks in a row, the longest stretch of weekly gains in two years
- G20 is currently meeting in Moscow with currency devaluation on the agenda. In other economic news Consumer Sentiment rose to 76.3 in February for its best result since November. Manufacturing in NY state also jumped from -7.8 to 10.0
- The industrials sector led the S&P higher this week while the telecoms lagged. The S&P Midcap 400, Russell 2000 and the Dow Transports all made record highs
- A leaked Wal-Mart email stating that February sales were a 'total disaster' sparked a sell off in retail stocks with WMT, TGT and M down 2.15%, 1.63% and 1.06%
- Campbell Soup rallied 1.76% to $39.40 per share after its recent BoltHouse Farms acquisition helped the company beat earnings expectations
- DOW +0.06%, S&P500 -0.10% and NASDAQ -0.21%
- USD was stronger against the JPY while the AUD also fell below the 1.0300 handle
- Gold fell 1.6% for a total loss of 4% over the week. Oil fell 1.5% on USD weakness
