US markets encded the week lower $CAT:xnys
- Published: 28 May 2012
- Markets ended the week lower as investors remain nervous about the continuing debt crisis in Europe and the possibility of a Greek exit
- The US market will be closed tonight for the Memorial Day Public Holiday
- Investors will look to later in the week for more direction with a raft of major economic reports due. Consumer Confidence, GDP and Non Farm Payrolls will provide further insight to the pace of the US economic recovery
- The S&P500 rose 1.7% for the week to break three weeks in a row of losses. The Dow had a gain of 0.7% and the tech heavy NASDAQ was up 2.1%
- Leading the moves on the Dow was HPQ which managed a rally of 2.57%. BA, CAT and JPM were all lower to close down 1.95%, 1.62% and 1.38%
- DOW –0.60%, S&P500 –0.22%, NASDAQ –0.07%
- EUR found support after recent heavy selling however the pair is still in a downward trend. The AUD managed a push higher this morning above 0.98
- Gold has pushed up to previous resistance at around the USD1576.00 level
- Crude rallied on news that the Iranian government has denied a UN visit
