S&P 500 falls on service PMI

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Source: Dukascopy Bank
S&P 500 index prolonged losses on Thursday as weaker non-manufacturing PMI data offset gains from better than expected drop in jobless claims. US benchmark index fell 0.77% or 10.74 points and closed at 1,391.57. Prudential Financial plunged 10%, the most in the S&P 500 after the second largest nation's insurance company posted a loss in the 1st-quarter as the value of the company's derivative contracts fell. Whole Foods Market rallied 7.6% The biggest US natural-goods grocer reported a profit that beat estimates on accelerated demand for organic foods. 

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Fri, 04 May 2012 10:23:54 GMT

Dow Jones Industrial Average index slipped 0.5% on Thursday

Dow Jones Industrial Average index traded lower on Thursday as US service PMI gauge fell more than expected in April to 53.5. Blue chip index shed 0.47% or 61.98 points and finished at 13,206.59 with basic material and industrial sectors posting the biggest losses. 23 of 30 shares ended in the red area on Thursday. Hewlett Packard dropped 3.1%, the

Fri, 04 May 2012 09:01:54 GMT

Australia cut its growth forecast to 3%

The RBA reduced Australia's growth forecast, citing stagnation in the non-mining industries. The bank downgraded expansion forecast for this year from 3.5% to 3%. The decision came after the central bank unexpectedly cut the core interest rate to 3.75%, citing  global fiscal difficulties and deteriorating domestic markets.

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