US stocks prolonged slump on Tuesday

Source: Dukascopy Bank SA
S&P 500 Index prolonged its slump on Tuesday, ending the day 0.9% lower. Disappointing corporate earnings reports coupled with grim news from the Eurozone pressurized US equities. All industries within the index have faced losses for the second consecutive day. Shares of DeVry posted the largest drop of 27% on news that Q4 results are likely to be much worse than initially projected.  Peabody Energy slid 11.27% after the company announced that Q2 earnings fell below expectations. Meanwhile, United Parcel Service declined 4.63% after the shipping firm announced lower-than-expected earnings and income in Q2. Among gainers, Ryder System soared 8.1% as Q2 profit was higher than forecast due to larger rental and lease revenue.

 

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Wed, 25 Jul 2012 15:25:35 GMT

Dow Jones Index dropped 0.82% on Tuesday

Dow Jones Industry Average Index extended previous losses on Tuesday, falling 0.82% to trade at 12,617.32. All sectors within the index tumbled. The largest decliners were basic materials and oil and gas sectors. Chevron fell 1.53% despite slight increase in oil price after positive China's PMI data release. EI du Pont de Nemours & Co dropped 1.99% after reporting a

Wed, 25 Jul 2012 14:52:36 GMT

German business confidence declines in July

German business confidence declined more than expected in July, falling to the lowest level since March 2010. The Ifo business climate index dropped from 105.2 in June to 103.3, representing a third consecutive decline, while economists expected a decline to 104.5. The main reason for such a sharp decline in confidence is deteriorating sovereign debt crisis, which damps economic growth

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