S&P 500 Index slid 0.06% on Monday

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Source: Dukascopy Bank SA
US equities declined during Monday's session as market participants were cautious ahead of Jackson Hole symposium that opens on Friday by Ben Bernanke's speech. Positive economic data flow from the US over last week weighted down on hopes for QE3, pushing the US stock index lower. The S&P 500 Index lost 0.05% to close at 1,410.44. Only two industries included in the index managed to climb. Technology firms were the strongest, posting a 0.23% gain. Apple, Cisco Systems and Corning rose by 1.88%, 0.83% and 0.61%, respectively.  On the upside was also Best Buy, advancing by 3.2% after reporting that the company's owner will pursue his plants to buy the firm and take Best Buy off the public stock market. The top-gainer was Hudson City Bankcorp, adding 15.68% after M&T Bank announced that it will acquire Hudson City Bancorp for USD3.7 billion. Sending the US stocks lower, basic materials and telecommunications slid 0.92% and 0.50%. Airgas and Cliffs Natural Resources lost 0.45% and 3.01% while CenturyLink and Sprint Nextel dropped by 0.71% and 1.43%.

 

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Tue, 28 Aug 2012 15:21:08 GMT

Dow Jones dropped as hopes for easing measures started to vanish

US blue chips moved lower on Monday as speculation that the Fed and ECB will soon loosen their monetary policies started to vanish. Meanwhile, investors awaited Jackson Hole symposium due to start on Friday. The Dow Jones Industrial Average Index retreated by 0.25% to close at 13,124.67. Only consumer services sector managed to rise by 0.30%. Financials were mixed, with

Tue, 28 Aug 2012 13:35:06 GMT

Gold advances in London on demand for wealth-protection

Gold rose after a two-day fall in London amid belief the Euro-debt crisis and additional BoE stimulus will fuel demand for wealth-protection. On Tuesday, bullion for immediate delivery gained 0.1% to $1,664.95 per ounce in London. Futures for December delivery traded 0.5% down at $1.667.20 in New York. Silver added 0.4%, while platinum lost 1.2% and palladium slid 1.1%.

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