US stocks eased down amid mixed economic data

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Source: Dukascopy Bank SA
US equities inched down on Tuesday amid mixed signals from the US economy. US CB consumer confidence fell more than expected while US home prices beat forecasts in June. Meanwhile, traders are cautious ahead of the Jackson Hole Symposium due on Friday. The S&P 500 Index eased down 0.08% to end the session at 1,409.30. Only three in ten sectors within the index rose. The largest gains posted oil and gas industry as supply concerns from the Gulf of Mexico sent crude oil price above USD96 per barrel. Chesapeake Energy, Devon Energy and Pioneer Natural Resources rallied by 0.42%, 0.15% and 0.32%, respectively. Meanwhile, Lexmark International was the top-gainer, soaring 13.73% after the company announced that it will discontinue producing ink-jet printers and will lay off 1,700 staff members. At the same time, basic materials and telecommunications dragged the S&P 500 Index lower. Ball and FMC dropped by 0.17% and 0.13% while Frontier Communications and Metropcs Communications lost 0.86% and 0.82%.

 

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Wed, 29 Aug 2012 08:53:09 GMT

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