Stocks end the week softer on lower GDP data $SP500.I

Last Updated on Monday, 05 March 2012 14:47
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  • US markets were down on Friday’s session as weaker than expected GDP figures tempered the markets. The YoY gain in GDP growth came in at 2.8% with the market expecting a gain of 3.0%. Consumer spending also came in short at 2.0% against an estimate of 2.4%
  • The Greek Debt negotiations continue to drag on with the market expecting some sort of agreement in the coming week
  • Earnings season continues with about two thirds of the 169 companies that have reported thus far beating expectations. Note worthies that reported on Friday were Ford , Starbucks and Juniper Networks. Ford fell 4.2% after it missed earnings, Starbucks fell 1% on a narrow profit forecast and Juniper fell 3% after it missed earnings
  • Other stocks that led the moves on the Dow were CVX, CSCO, TRV, XOM and BA each falling 2.47%, 1.36%, 1.11%, 1.08% and 1.01%
  • DOW –0.58%, S&P500 -0.16% and NASDAQ 0.40%
  • EUR rallied to a 1.3233 high and the AUD has opened slightly weaker
  • Gold continues its run higher and Crude is trading just below USD100
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