US equities dropped on QE3 pessimism

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Source: Dukascopy Bank SA
US equities extended previous losses on rising pessimism over the QE3. On Wednesday, Federal Reserve Bank of Chicago president Charles Evans hinted that the Fed has to put more efforts to boost national economy. Dismal news from Eurozone also sent US stocks lower. Massive protests over fresh austerity measures lifted Spanish 10-year bond yield above 6%. The S&P 500 dropped 0.57% to close at 1,433.32. All but one sectors within the index tumbled. Defensive shares moved higher, with utility firms adding 0.18%. Ameren, Dominion Resources and Consolidated Edison gained 0.34%, 0.46% and 1.06%, respectively. Dragging the US stock index lower, oil and gas companies as well as lenders lost 0.91% and 0.76%. Anadarko Petroleum and Chesapeake Energy Corp. shed 0.58% and 1.52% amid weaker energy prices. Among financials, Comerica, Fifth Third Bancorp and KeyCorp plunged 0.13%, 1.29% and 0.80%, respectively.


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Thu, 27 Sep 2012 18:25:29 GMT

Dow Jones index shed 0.33% on Wednesday

US blue chips dropped further on Wednesday as pessimism over the QE3 weighted down on market sentiment. Negative headlines from Eurozone also pressurized  US equities. However, the downswing was limited by the US new home sales data. US home sales missed expectations in August but remained close to two-year high. The Dow Jones Industrial Average Index slid 0.33% to close

Thu, 27 Sep 2012 17:08:29 GMT

Cable pushes higher on disappointing U.S. data

On Thursday, the British Pound pushed higher versus the U.S. dollar on disappointing U.S. and optimistic U.K. data. GBP/USD hit 1.6236 and subsequently consolidated at 1.6224, which was a 0.37% increase for the European afternoon session. The pair's support was likely to be found at 1.6138, while the resistance was prone to be at 1.6310.

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