US Stocks Slide Into Close as Investors Remain Cautious On Europe | November 17, 2011

Asian Markets are set to open lower as US Stocks closed the session lower on a volatile night in trade. US stocks opened lower, tumbling nearly 140 points after weak leads from Asian & Europe.

Stocks steadily moved higher in afternoon trade and was in positive territory after reports the Federal Reserve Bank of Boston, Eric Rosengren, said global central bankers could step in with coordinated action to buy bonds. In addition to the statement, continued positive economic numbers continue to buoy with the strongest reading on the housing market from the National Association of Home Builders since May 2010.

The Dow fell 190.11 or 1.58% points to close the session at 11906.05.

The EURUSD fell below $1.35 as Italian Bonds yields remain in focus. The Euro was trading as low as $1.3430 before rebounding on the news that Greek Prime Minister Lucas Papademos won a confidence vote to press ahead with the necessary steps to implement austerity measures. Prices continue to trade below the 1.35 level and last traded at 1.3461.

WTI Oil broke through the $100/barrel level, surging above $102 to close at the highest level since July. The market was driven by the news that refiners in the key U.S. Gulf Coast region will be getting better access to benchmark West Texas Intermediate crude. Prices last traded at 101.84

Gold prices fell overnight as the US dollar continued put pressure on prices. Prices last traded at 1762.95.

Last Traded
SPI 200 future 4251
S&P500 Index 1236.91
Dow Jones 11906.05
FTSE 100 Index 5509.02

Last Traded
Gold 1762.95
Oil (Nymex) 101.84

Last Traded
AUDUSD 1.0083
EURUSD 1.3461
GBPUSD 1.5725
USDJPY 77.05
Bloomberg, Dow Jones News