Markets down for the 6th day in a row $PG:xnys
- Published: 13 July 2012
- US markets fell for the 6th day in a row investors continue to worry about the state of the economic recovery, weaker corporate earnings and the continued debt crisis that is plaguing Europe
- Markets attention will turn to China this afternoon as the important Chinese GDP figures will be released at 12.00AEST
- Pharmaceutical giant Merck & Co rallied 4.13% after it halted the trial of a osteoporosis drug earlier than expected after it proved to be very effective
- Procter & Gamble Co rallied 3.75% after the FTC approved a deal between the consumer products giant and Pershing Square Capital Management
- Marriott International Inc fell 6.44% after the hotel chain reduced its outlook for growth outside its core North American market space
- Leading the moves on the Dow overnight was MRK, PG and MCD each rallying 4.13%, 3.75% and 2.68%. INTC led the losses, falling by 2.56%
- DOW –0.25%, S&P500 –0.50% and NASDAQ –0.75%
- USD was stronger again as the market remains cautious. AUD below 1.0200
- Gold was weaker on USD strength and low inflation risk. Oil was off slightly
