US stocks were mostly lower on Wednesday

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Source: Dukascopy Bank SA
US equities extended previous loses on Wednesday amid rising risk-aversion among market participants ahead of the key ECB meeting due on Thursday. At the same time, speculation that the Fed and PBOC will ease their monetary policies continued to support US stocks. The S&P 500 Index lost 0.11% to close at 1,403.44. Only four in ten sectors within the index inched up. The top-performers were basic materials and telecommunications. Cliffs Natural Resources and Sealed Air rose by 3.09% and 5.95% while AT&T and Sprint Nextel advanced by 3.12% and 0.08%. Hartford Financial Services added 1.98% after it agreed to sell its retirement plans unit to Massachusetts Mutual Life. On the upside was also Safeway, gaining 4.30% on news that the company plans to take its gift cards business public in the H1 of 2013. Sending US stock index lower, utility firms dropped by 0.42%. Consolidated Edison and Duke Energy slid 0.90% and 0.52% . Fedex  lost 1.99%  on profit warnings amid weaker demand for express package delivery.

 

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Thu, 06 Sep 2012 14:41:33 GMT

U.S. ISN non-manufacturing PMI better than expected in August

The Institute for Supply Management said in a report that the U.S. non-manufacturing index jumped to 53.7 in August compared to previous month's reading of 52.6. Experts had predicted the headline reading to advance 53.0 in the month.  Any reading above 50 indicates nation's non-manufacturing sector is generally expanding.

Thu, 06 Sep 2012 15:32:32 GMT

U.S. weekly unemployment claims slid

U.S. first-time jobless claims posted more-than-estimated fall in the week through September 1, the Labor Department said on Thursday. Initial unemployment claims tumbled to 365,000 on week, from 377,000 in the previous week. Economists forecast a decline to 370,000. Separate ADP report posted a wider-than-expected private sector job expansion.

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