Stocks move lower on economic data and lower oil prices $CAT:xnys
- Published: 29 March 2012
- Although stocks are still on track for their best Q1 since 1998 markets were weaker on news that Durable Goods Orders rose less than expected coming in at 2.2% in February. Economists had expected orders to rise 3.0% for the month. However markets were encouraged by comments from Fed Chairman Bernanke insinuating that the Fed will not rule out further options to boost growth if so required
- The CBOE Volatility Index (VIX) rose above 16 as risk appetite reduced
- S&P500 materials and energy indexes traded down overnight
- Organic Food company Annie's (BBNY) rallied 88.05% after its IPO
- Leading the losses on the Dow was CAT, AA, UTX and DIS each falling 3.52%, 2.29%, 1.91% and 1.45% respectively
- DOW –0.54%, S&P500 –0.49% and NASDAQ –0.49%
- USD gained against most of its major peers with the AUD breaking 1.04
- Gold fell on news of Indian gold industry strikes, and Oil fell for the first time in four days to a low of USD104.67after an increase in supplies
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
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