U.S. shares extend losses on slumping retailers

Source: Dukascopy Bank SA
© scanpix/reuters
U.S. equities extended their losses for the third consecutive day, as retailers shrank after the Christmas holiday pairing with concerns about the final outcome of the nation's budget negotiations. The S&P 500 index dropped 0.5% to 1,419.83 on Wednesday. Nine out of 10 groups in the index inched lower, with basic materials being the only sector surging. Cliffs Natural Resources added 2%, as raw-material stocks gained on speculation Japanese new government will launch more monetary stimulus. Alpha Natural Resources capped losses in the energy sector by adding 5.54%, while Penney J.C. advanced 4.43% and Ford Motor gained 3.46%. Meanwhile, consumer discretionary stocks mostly paired losses. Coach Inc. and Amazon.com posted the biggest losses of 5.89% and 3.86%, respectively, and triggered a  0.75% decline in the consumer goods sector. The shares of apparel company Abercrombie & Fitch Co posted third biggest decline of 3.52%. The worst performing group was Consumer services by losing 1%, followed by Utilities erasing 0.93%. In addition, Apple Inc., the most valuable company, slid 1.4%, as technology shares dropped 0.56%.


Back to articles

Actual Topics

Thu, 27 Dec 2012 12:50:38 GMT

Swiss UBS Indicator fell in November

Swiss UBS indicator of private consumption fell slightly in November on a smaller number of hotel stays by Swiss nationals and a decline in new car registrations, according to the UBS report. The indicator fell from 1.30 in October to 1.23 in November."The positive trend in the business situation in the retail industry and the continuing high number of new

Thu, 27 Dec 2012 12:08:35 GMT

China's industrial profit growth rises on recovery of domestic economy

Profit growth of Chinese industrial firms accelerated in November signing a recovery of domestic economy after a long period of slow growth, the National Bureau of Statistics reported on Thursday. Year-on-year, China's industrial profits climbed 22.8% in November compared to 20.5% advance in the month before, however the country's growth is forecast to slow down to 7.9% this year, its

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.