Aug 01, 2012, 08.11 AM IST

Wall Street ends with moderate loss

In the US markets stocks closed out quiet session with modest losses, as investors maintain a wait-and-see approach to the Federal Reserve policy decision today and the ECB meeting tomorrow.

Source: Moneycontrol.com

Share . Email . Print . A+

In the US markets stocks closed out quiet session with modest losses, as investors maintain a wait-and-see approach to the Federal Reserve policy decision today and the ECB meeting tomorrow. However for July, the Dow gained 1%. The S&P rose 1.3% while the Nasdaq edged up 0.15%.

Dow Jones Industrial Average was down 0.49% or 64.33 points at 13008.68. Nasdaq Composite was down 0.21% or 6.32 points at 2939.52. Standard & Poor's 500 was down 0.43% or 5.98 points at 1379.32.

Some improvement on economic data front, July consumer confidence jumped to 65.9 after a reading 62.7 in June. The July Chicago PMI increased to 53.7 from 52.9 in June. And June personal income rose 0.5% and consumer spending was unchanged.

In key data to watch out for in US today, ADP private payroll employment may come in at 120,000. Also ISM manufacturing index is expected to rise to 50.1 levels. However, construction spending may decline to 0.5 in June.

In the currency space, the euro holds around 1.22 to the dollar ahead of the key decisions from the central banks in US and Europe. The dollar index is below the 83 mark.

In commodities, crude prices slip with Brent down to USD 104 levels pressured by concerns that central banks may not deliver enough stimulus to prevent a global economic slowdown.

From the precious metals space, gold prices too make slight declines, currently around USD 1610 levels.