Published on Wed, Jul 01, 2009 at 08:22 | Source : Moneycontrol.com
Updated at Wed, Jul 01, 2009 at 09:39
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Wall Street declines; Dow ends down 82 points
Though the Wall Street concluded Tuesday session with broad-based losses, it delivered the best quarter since 1998. However, Tuesday trade ended on a sour note as consumer confidence and expectations readings disappointed. The Dow slipped 82.38 points, or 1%, to 8,447.
Though the Wall Street concluded Tuesday session with broad-based losses, it delivered the best quarter since 1998. The S&P 500 surged 15% in the second quarter, the Dow advanced 11% and the Nasdaq shot up a whopping 20% in the quarter.
However, Tuesday trade ended on a sour note as consumer confidence and expectations readings disappointed. June consumer confidence missed expectation and came in at 49.3. Expectations index also missed the consensus estimate. Also Read - How ADRs performed
The Dow slipped 82.38 points, or 1%, to 8,447; the S&P 500 fell 7.90 points, or 0.9%, to 919.33, and the Nasdaq declined 9.02 points, or 0.5%, to 1,835.04.
In base metals, copper prices fell the most in a week after the dollar rallied and US consumer confidence declined, curbing optimism that the worst of the recession is over.
The dollar gained against a basket of currencies due to the drop in US consumer confidence.
