US stocks plunged after factory orders data

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Source: Dukascopy Bank SA
US stocks closed sharply lower on Monday after a dismal report on the US factory orders. US factory orders rose 1.8% in December, compared to estimates of a 2.3% increase. Turmoil in the Eurozone also weighed. The S&P 500 Index slumped 1.15% to close at 1,495.71. All industries declined. On the upswing was Humana, the second best performer in the index. Humana gained 4.66% after unveiling better-than-expected earnings for Q4. The top-laggards were technology and consumer services stocks. Apple and Cisco Systems dropped 2.49% and 0.05%, while Carnival and Yum! Brands sagged 1.69% and 3.02%. Other notable losers were Mcgraw-Hill Companies and Moody's that plunged 13.78% and 10.68% after the US government launched a civil lawsuit against S&P Rating Services and its parent company McGraw-Hill over certain mortgage bond ratings. Energy stocks also followed a downward trend, with Anadarko Petroleum dropping 0.84% despite announcing upbeat results for Q4.
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Tue, 05 Feb 2013 14:00:03 GMT

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