Dow Jones pared losses after FOMC statement

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Source: Dukascopy Bank SA
The Dow Jones Industrial Average Index pared losses on Wednesday after the Fed stated that it would stick to its loose monetary policy until the US economy improves. However, market sentiment remained under heavy pressure as corporate earnings continued to disappoint. Adding to losses of the US blue chips index, the eurozone witnessed faster than expected contraction of the manufacturing sector in September. Only two in nine sectors included in the index climbed. The top-gainer was consumer goods sector, adding 0.87%. Procter & Gamble and Coca-Cola gained 0.95% and 0.74%. Dragging the Dow Jones index lower, basic materials and technology firms prolonged their slump. El du Pont de Nemours lost another 0.75% after reporting weak profits in Q3 on Tuesday. Among technology companies, Intel and Hewlett-Packard dropped by 0.65% and 1.54%. Boeing and AT&T also closed lower despite announcing upbeat results for the last quarter. Boeing and AT&T lost 0.15% and 0.83%.


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Thu, 25 Oct 2012 16:36:47 GMT

Japanese equities soared on easing speculation

Japanese equities rallied on Thursday on mounting hopes that the BoJ will embark on easing measures to stimulate faltering economy. The BoJ is expected to announce monetary easing at its next meeting due on October 30. However, lingering concerns over weak corporate results and dismal PMI readings from the eurozone capped gains of Japanese shares.  The Nikkei 225 Index soared

Thu, 25 Oct 2012 15:59:48 GMT

S&P 500 Index

US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index

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