U.S. equities down as Senate votes for leaving the automatic spending cuts unchanged

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Source: Dukascopy Bank SA
U.S. equities fell from their gains earlier this week, as a vote of Senate kept the automatic spending cuts of $85 billion. The Standard & Poor's 500 Index dropped 0.1% to close at 1,514.68 after earlier surging as much as 0.6%. Only five out of ten groups in the index advanced. Mylan Inc. rose 3.6% to $29.61 at its close as the drug maker decided to purchase the injectable medicine unit in India on its plans to become one of the three global providers. Furthermore, Range Resources Corp. climbed 3.5% to $76.80 and lifted oil and gas sector that was 0.1% up. J.C. Penney Company Inc. Holdings Sales slumped 17% to $17.57 after the retailer posted the lowest annual sales revenue in over 20 years. Intuitive Surgical erased 11.1%, as the robots provider in surgery is currently being investigated by U.S. regulators over its products safety. Cablevision Systems Corp. eased 9.6% after posting operating loss.
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Fri, 01 Mar 2013 11:35:04 GMT

Dow Jones Index slips on concerns about the automatic spending cuts

U.S. equities erased their gains in the last trading minutes prior to investors rebalancing of benchmark gauges. In addition, Senate rejected the plan for replacing sequester. The Dow Jones Industrial Average erased 0.2%, or 20.88 points, to 14,054.49, 1% down from its October record. Three out of nine sectors edged higher. Hewlett-Packard posted biggest gains in the index, as it

Fri, 01 Mar 2013 11:16:23 GMT

Loonie falls amid speculation GDP decreased

Canada's Dollar declined to an 8-month low as slower-than-anticipated growth in the U.S., the country's largest trading partner, boosted concern a report will show the economy shrank. The loonie lost 0.8% to C$1.0306 per greenback at 5 p.m. in Toronto. The currency earlier touched C$1.0313, the weakest level since June 29. One Canadian Dollar buys 97.03 U.S. cents.

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