U.S. shares halt their advance

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© scanpix/AP
The U.S. shares erased their earlier gains after Fed Chairman stated the monetary stimulus  alone cannot avert the so called "fiscal cliff" effects of automatic tax hikes and  spending cuts  set to come into force next year. Investors now focus on the progress of budget talks in Washington.

The S&P's 500 Index advanced less than 0.1% to 1,428.48 bouncing back from its earlier gain of 0.8%. Five out of ten industries  in the index eased down  with Technology tumbling the most by 0.47%. Consumer services and Health care also posted losses by declining 0.18% and 0.17%, respectively. Meanwhile, phone, financial and energy  companies added the most. Among the best performers was Netflix Inc. as its shares rose 5.40$% after Moody's Investors Service assessed the company's outlook as stable and downgraded its debt rating  also saying that the recent deal with Walt Disney Company is one step closer in building exclusive  content. The second biggest gainer was FMC Corp. that surged 4.78%  after announcing  it will beat its long-term goal of achieving $5 billion in sales by 2015. Alongside to that, the shares of Seagate Technology slid 4.41% and CF Industries Holdings' stocks lost 3.47%.

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