Once again stocks finish mixed as investors remained on edge amid ongoing weakness overseas with the S&P stating that Greece will have to restructure its debt again.
The Dow Index traded up 19.61 points to close at 13,145 while the S&P 500 erased 2.26 points to finish at 1403.28. Earlier in the night the German Dax Index traded down 1.8 percent at 6875.
The pound rose the most against the euro in over ten days after a report released from Europe showed that consumer confidence fell, boosting the appeal of the UK assets as a haven. EURGBP (see above chart) traded down from yesterday highs of 0.8383 to recent lows of 0.8332.
On the economic front, the US Labour department announced that weekly jobless claims declined 5,000 to a seasonally adjusted 359,000, although a four year low the report still disappointed as economists surveyed were expecting a reading of 350,000.
Gold retreated for the third consecutive day as jewellers in India continue to extend the nationwide shutdown to 13 days in protests of a 1 percent tax on non-branded products. The Bombay Bullion Association said that imports could plunge as much as 59 percent.
WTI crude oil fell to a six week low as equities slid and France said governments are moving closer to an agreement on a release from emergency stockpiles to curb prices gain.
INDICES
Last Traded
SPI 200 future 4338
S&P500 Index 1403.28
Dow Jones 13145.82
FTSE 100 Index 5742.03
COMMODITIES
Last Traded
Gold 1662.09
Oil (Nymex) 103.25
CURRENCIES
Last Traded
AUDUSD 1.0384
EURUSD 1.3298
GBPUSD 1.5950
USDJPY 82.43
Source
Bloomberg, Dow Jones News
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