Markets pullback overnight $TIF:xnys
- Published: 21 March 2012
- Markets were weaker after recent strong gains on news that China is slowing and demand for commodities such as steel is slowing. Chinese regulators also raised the price of fuel for the second time this year
- Housing data was slightly weaker with 698k homes being started in February. The figure was down 1.1% and fell short of the 699k estimate
- Most S&P500 sectors were weaker with industrials and energy leading the losses. Financials did however manage to move higher
- Bank of America rallied 2.94% after it announced that it had no intention of introducing addition equity via a secondary offering
- Tiffany & Co rallied 6.68% after it announced a strong profit forecast
- Adobe Systems fell 3.91% after profit forecast fell short of expectations
- DOW –0.52%, S&P500 –0.30% and NASDAQ –0.14%
- USD was weaker against the EUR, the AUD had a bearish tone
- Gold was down 0.9% overnight and Crude fell 2.3% on Saudi comments
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
- Download your FREE Trading Software - Demo
- Download your Best Online FX Trading Software - Live
| Tweet | {JFBCLike url=http://www.spectrumlive.com/market-view layout=button_count show_faces=true show_send_button=true width=120 action=like font=verdana colorscheme=light key=sl} |
{JFBCComments href=http://www.spectrumlive.com/market-view width=390 num_posts=1 colorscheme=light key=sl}
