Stocks finish flat post Cyprus vote $APC1
- Published: 20 March 2013
- US equity market finished relatively flat despite the Cypriot Parliament rejecting an unprecedented levy on bank deposits which originally hoped to raise 5.8 billion Euros
- After almost reaching its 2007 high the S&P 500 has had three consecutive sessions losing almost 1 percent. Alcoa, Caterpillar and American Express led the Dow lower after losing almost 0.9 percent whilst Coca Cola, Procter and Gamble and Hewlett-Packard posted gains of at least 1.2 percent
- Call options in Apple Inc. are the most expensive they have been in 5 years as traders look for a rebound in the stock since it has fallen 35 percent from the highs made last September
- The CRB commodities Index was lower overnight with heating Oil and Crude oil leading the move despite a strong performance by natural gas. Other commodities to push lower overnight were coffee and copper
- DOW +0.03%, S&P500 -0.24% and NASDAQ -0.26%
- The Euro traded at a 3 month low against the US Dollar after trading as low 1.2844 overnight. The Japanese Yen strengthened against 15 of its 16 peers before a change of leadership at the Bank of Japan
- This week we have the FOMC rate meeting in the US.
