S&P 500 lost 0.16% on Monday

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Source: Dukascopy Bank SA
S&P 500 Index closed lower on Monday as Friday's disappointing labour data continued to weight on the US stock market. Adding pressure on the US equities, Spain's borrowing costs soared to almost 7%, level considered to be unsustainable. S&P 500 closed  0.16% lower at 1349.25. Apple rose 0.72% despite losing the case filed by Samsung Electronics. Shares of Celgene added 0.29% as the firm is one of the two companies talking whether to bid for Human Genome Sciences. Well Point gained 4.17% after reporting that its plans to purchase Amerigroup for USD4.46 billion.

 

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Tue, 10 Jul 2012 14:26:32 GMT

Dow Jones Industry Average declined after China's inflation data

Dow Jones Industry Average inched down 0.28% to trade at 12736.29 amid dismal inflation data form China and Eurozone's fiscal instability.  However, speculation that the Fed will launch extra monetary stimulus limited losses of the blue chips index. Oil and gas companies moved lower on global energy demand concerns. Chevron and Exxon Mobil both plunged by 0.59% and 1.36%. Meanwhile,

Tue, 10 Jul 2012 11:52:54 GMT

Consumer credit grew by 17.12 billion in the USA

The Federal Reserve announced growth of USD 17.12 billion of consumer credit in May. It is USD 8.62 billion more than predicted by Wall Street economists. Revolving credits (through credit cards) increased by USD 8.01 billion, whereas non-revolving, including cars and student loans, gained USD 9.10 billion. Consumers are spending more , which is likely to stimulate the economy and new work places creation,

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