US stocks dropped on Monday

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Source: Dukascopy Bank SA
US stocks started the week on the negative note amid dismal data from Eurozone. Leaders of France and Germany failed to agree on terms of the banking union over the weekend. Moreover, German Ifo business climate index missed expectations in September, adding to fears that Eurozone will fall deeper into recession. The S&P 500 Index lost 0.22% to close at 1,456.89. Only three in ten sectors within the index climbed. The biggest gains poised defensive stocks, with utility sector advancing 0.98%. Shares of Ameren, Centerpoint Energy and Consolidated Edison Company rose 0.43%, 0.80% and 0.64%, respectively. Dragging the US stock index lower, technology and basic materials retreated 0.89% and 0.68%. Apple, Dell and Lexmark International slid 1.33%, 1.93% and 2.90%, respectively. Apple came under pressure after sales of new iPhone 5 missed forecasts. Among basic materials, Allegheny Technologies, Eastman Chemical and CF Industries Holdings dropped 0.93%, 0.91% and 0.88%, respectively.

 

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Tue, 25 Sep 2012 14:58:23 GMT

Japanese CSPI fell more than expected in August

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