US stocks fall as Federal Reserve maintains plan $AUDUSD
- Published: 02 May 2013
- U.S. stocks fell, pulling the Standard & Poor’s 500 Index from a record high, on slower growth in American payrolls and manufacturing as the Federal Reserve said it will maintain its bond buying to support the economy.
- Stocks dropped earlier as a report showed companies added fewer workers than forecast in April. The 119,000 increase in payrolls, the smallest since September. The S&P 500 closed down 0.93% to 1582.70.
- All 10 S&P 500 groups fell, with energy and raw-materials stocks leading. Cliffs Natural Resources Inc., the largest U.S. iron-ore producer, dropped 4.7% to $20.33 while the S&P GSCI gauge of 24 commodities fell 2.1% to close at 611.06.
- DOW -0.94% S&P500 -0.93% and NASDAQ -0.89%
- Australia’s dollar held a two-day gain versus the U.S. currency on bets the Federal Reserve will affirm its commitment to so-called quantitative easing at the end of a policy meeting today. The AUD is currently buying 1.0279 US Dollars.
- Commodity companies dropped the most among 10 S&P 500 industries as oil and copper tumbled. West Texas Intermediate crude tumbled as U.S. oil inventories reached an 82-year high amid signs of economic slowdown in the U.S. and China. WTI for June delivery retreated $2.47, to settle at $90.97 a barrel.
