Markets rally into the close after weak open $EURUSD
- Published: 03 May 2012
- The Dow retreated from a 4 year high whilst the NASDAQ eked out a small gain overnight. The market opened poorly due to weaker than expected ADP Employment Data. The markets attention now turns to Friday's US Non Farm Payrolls data
- Energy and financials fell the most among the S&P sectors while Homebuilders and Retailers rallied later in the session to help pair some of the earlier losses. Homebuilders were buoyed by a report that showed sales by homebuilders rose to their highest level in 6 years
- Visa Q2 profit soared 47% and Net Income increased from USD881M to USD1.29Billion after customer credit and debit spending increased
- Chesapeake Energy Corp fell 14.59% due to disappointing earnings and reports that its CEO and Chairman Aubrey McClendon also ran a USD200M commodity hedge fund whilst working at Chesapeake
- DOW –0.08%, S&P500 –0.25%, NASDAQ +0.31%
- USD was stronger against the EUR as EU employment increased
- Gold was weaker before rallying and Crude fell on higher inventories
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
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