US markets end the session flat $DAL:xnys
- Published: 05 June 2012
- US equities finished the session flat overnight after recent sharp losses. Investors remain weary of the unfolding situation in Europe with bonds prices soaring to records on a flight to safety as the debt crisis intensifies
- Markets have also been rattled of late by the spate of weaker economic data coming out of Europe and China. The pace of the US recovery has also seemed to stagnate with US payrolls disappointing on Friday and weaker than expected factory orders which fell 0.6% for the month of April
- JP Morgan which is the biggest of the US banks fell by 2.9%. The KBW Banking Index was also down 2.2% for the session. This brings the indexes losses to 18% since the March highs, the years gains still remain at 6.5%
- Delta Airlines fell 12% after the company missed earnings projections due to thinner margins after recent price cuts. Rival US Airways also fell 11.55%
- Leading the moves on the Dow overnight was JPM, CAT, GE and BAC each falling 2.91%, 2.64%, 2.10% and 1.71% respectively
- DOW –0.14%, S&P500 +0.01%, NASDAQ +0.46%
- The USD Index fell 0.4% overnight and the AUD moved back above 0.9700
- Gold traded around the USD1620.00 level and Oil jumped above USD84.00
