US stocks retreated as Fed stimulus effect fades

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Source: Dukascopy Bank SA
US stocks retreated on Monday on signs of deepening recession in the US. The New York manufacturing index continued to dip this month. Moreover, a boost created by long-awaited easing measures in the US started to fade. The S&P 500 Index lost 0.31% to close at  1,461.19. Four in ten sectors within the index climbed. The top-gainers were telecommunication and health care companies. Frontier Communications Company and Crown Castle International  gained 0.22% and 1.06%. Among health care firms, Aetna and Becton Dickinson advanced 0.23% and 0.32%, tracking gains of Iris International. At the same time, financials and basic materials dragged the index lower. Bemis and Cliffs Natural Resources dropped  1.18% and 7.00% while Comerica and Keycrop tumbled 1.88% and 1.44%.

 


 

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