US equities flat after FOMC minutes

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Source: Dukascopy Bank SA
US stocks were flat after the Fed hinted that it is likely to implement easing measures in the immediate future. Meanwhile, market participants remained cautious ahead of the meeting between Angela Merkel and Grancois Hollande due on Thursday. The S&P 500 Index added 0.02% to trade at 1,413.49. Only four in ten sectors included in the index rose. The biggest gains posted basic materials and consumer services. PPG Industries and Vulcan Materials climbed 3.33% and 0.60%. On the upside were also property developers, with PulteGroup leading the gains. PulteGroup added 3.91% despite weaker than expected existing home sales in July. Meanwhile, utilities were mixed, with Consolidated Edison Company and Southern Company climbing 0.36% and 0.59% and Ameren and CenterPoint slumping 0.06% and 0.24%. At the same time, telecommunication shares created notable pressure on the S&P 500, with Crown Castle International and Sprint Nextel dropping by 0.02% and 3.94%.

 

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Thu, 23 Aug 2012 10:28:53 GMT

Dow Jones Index slid after existing home sales data

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