S&P 500 index slightly down on consumer confidence data

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Source: Dukascopy Bank
S&P 500 Index slightly faded on Tuesday as US reported lower than expected consumer confidence amid declining home prices. US benchmark gave up  0.05% or 0.6 points and closed at 1,312.41, pushed down by energy shares. Mattel Inc. gained 5% after reporting strong results from 4th quarter, lifted by robust demand for Barbie and Monster High dolls. US Steel Corp. surged 5% on higher demand for pipes in last quarter. Best Buy Co. Inc lost 5.6% after posting disappointing quarterly results. On monthly basis the index performed well, adding 4.4%. 

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Wed, 01 Feb 2012 12:42:33 GMT

UK production index surges to eight-month record high

UK production index rallied to eight-month record high during January 2012 and reverted back to expansion as British manufacturing rebounded. The plant gauge climbed from 49.7 in December to 52.1 in January. Economists questioned by Bloomberg predicted the figure to be at 50. The reading below 50 indicates contraction while the figure above means expansion. 

Wed, 01 Feb 2012 12:40:05 GMT

Home prices in the US fall on soft demand

House price in the US fell much more that initially projected in November. US prices for single-family houses declined by 0.7%, confounding the forecast of 0.5% increase. House price leveled off at the level of 2003 on the oversupply and weak demand. Consumer confidence also decreased in January, following gains over two preceding months.

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