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Jul 12, 2012, 08.23 AM IST
In the US markets, stocks finished slightly lower but staged an impressive comeback in the last half-hour of trading on hopes that the European leaders are working to form a solution to tackle the region's ongoing debt crisis.
Dow Jones Industrial Average was down 0.2% or 24.75 points at 12602.26. Nasdaq Composite shed 0.9% or 25.83 points at 2849.49. Standard & Poor's 500 fell 0.21% or 2.81 points at 1329.04.
In economic data, GDP increased at a 1.9% annual rate in its final reading, which was unchanged from its estimate last month and in line with expectations. And weekly jobless claims fell 6,000 to a seasonally adjusted 386,000.
In key economic data to watch out for in US, the consumer sentiment index is expected to be flat at its 2012 low levels of 74.1.
Meanwhile, the Chicago PMI data is seen higher at 53.1 in June compared to a 52.7 reading last month, which was the lowest since September 2009.
Personal income growth could see a modest gain to 0.3% from 0.2% in April.
In the currency space, the euro hobbled along three-week lows in Asia trade as investors awaited more news from a summit of European leaders. The dollar index is however stable above 82.
In commodities, Brent crude prices slipped below USD 92 on worries that an EU summit will not find durable solutions to the euro zone crisis.
In precious metals, gold fell more than 1% hit by worries of an economic slowdown. However in Asia trade it stabilises around the 1550 mark.
Tags: US markets, Wall Street, Dow Jones Industrial Average, Nasdaq Composite, Standard & Poor's 500
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