US equities retreated despite positive labour numbers

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Source: Dukascopy Bank SA
© Scanpix/Reuters
US stocks ended last week on the negative note despite encouraging data from the national labour market. US unemployment rate tumbled to 7.8% last month, beating expectations of a rise to 8.1%. The S&P 500 Index inched down 0.03% to close at 1,460.93. Six out of ten sectors within the index rose. The top-gainers were industrials and basic materials. Shares of Cooper Industries, Cummins and Emerson Electric climbed 0.63%, 0.11% and 0.29%, respectively. Among basic materials producers, Bemis Company and Cliffs Natural Resources added 0.76% and 1.35%. Meanwhile, Avon Products was the best-performer, gaining 7.21%. The company announced that its CEO will step down by the end of the year. The CEO failed to turn around the firm. Constellation Brands moved higher by 4.26% after reporting upbeat quarterly results and raising full-year profit target.  On the downside were telecommunications, with Metropcs Communications and Verizon Communications falling 0.32% and 0.44%.

 

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Mon, 08 Oct 2012 17:20:58 GMT

US blue chips climbed on Friday

US blue chips advanced on Friday as US jobless rate unexpectedly dropped  under 8% last month. However, mixed data from the single currency union capped the upswing of the US blue chips index. The Dow Jones Industrial Average added 0.26% to end the week at 13,610.15. Six out of nine sectors included in the index gained. Basic materials and consumer

Mon, 08 Oct 2012 15:49:00 GMT

U.S. Dollar higher versus Yen on profit taking

On Monday, the U.S. Dollar edged lower versus the Japanese Yen, as traders were locking in profits after U.S. employment rally. USD/JPY hit a session high of 78.25, and consolidated at 78.33, which was a 0.42% fall for the European morning trading session. The pair's support was likely to be at 78.12, while the resistance was prone to be 78.76.

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