S&P 500 Index

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Source: Dukascopy Bank SA
© Scanpix/AFP
US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index inched down by 0.31% to end the session at 1,408.75. All but one sectors within the index fell. The only gainer was health c are industry, gaining 0.12%. Meanwhile, Norfolk Southern hit all railroad stocks. The company tumbled by 7.45% after reporting a 27% fall profits for Q3 amid weak coal prices. Meanwhile, Netflix sagged 11.87% as the firm lowered its forecast for the number of new subscribers. Dow Chemical advanced by 4.66% after announcing its restructuring plan. The firm plans to lay off 2,400 employees and close 20 manufacturing plants.


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Thu, 25 Oct 2012 16:10:45 GMT

Dow Jones pared losses after FOMC statement

The Dow Jones Industrial Average Index pared losses on Wednesday after the Fed stated that it would stick to its loose monetary policy until the US economy improves. However, market sentiment remained under heavy pressure as corporate earnings continued to disappoint. Adding to losses of the US blue chips index, the eurozone witnessed faster than expected contraction of the manufacturing

Thu, 25 Oct 2012 15:48:53 GMT

US equities dropped on weak news from Europe

US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index

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