US stocks declined ahead of FOMC minutes

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Source: Dukascopy Bank SA
US stocks dropped on Tuesday despite positive news from the Eurozone. Spain sold short-term debt with lower yields on Tuesday. Moreover, experts predict that the ECB will soon announce measures to ease debt pressure in the region.  Meanwhile, traders remained cautious ahead of the FOMC minutes release due on Wednesday. The S&P 500 Index slid 0.35% to close at 1,413.17. Only two in ten sectors included in the index managed to post mild gains. Financials and basic materials were the top-performers. Fifth Third Bancorp, PNC Bank and Wells Fargo & Company advanced by 0.14%, 0.83% and 0.91%, respectively. Among basic materials, FMC dropped by 0.76% while Freeport-Mcmoran Copper & Gold jumped by 3.20%. At the same time, telecommunication and technology firms dragged the index lower. CenturyLink and Frontier Communications sank 0.55% and 0.22%. Meanwhile, Apple retreated from all-time high, pushing technology shares lower.

 

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Wed, 22 Aug 2012 09:20:50 GMT

Dow Jones Index slid despite positive headlines from Eurozone

Shares of the US blue chips moved lower on Tuesday despite optimism over the Eurozone. On Tuesday, borrowing costs of Spain dropped after short-term debt auction. Meanwhile, market participants anticipated a release of Fed minutes as well as US existing home sales data due on Wednesday. The Dow Jones Industrial Average Index lost 0.51% to end Tuesday's session at 13,203.58.

Wed, 22 Aug 2012 13:17:09 GMT

Indian CPI continue to decelerate

Consumer price index in India rose at the slowest pace in four months in July, said the Central Statistical Office on Tuesday.  Nation's CPI increased by 9.86 per cent from a previous year, after jumping 9.93% in June.  In the meanwhile, the Indian Central bank left the benchmark interest rate unchanged in the previous month in order to prevent inflation risks.

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