US market ends lower; crude slips marginally

By Varinder Bansal, Research Analyst at CNBC-TV18

The US markets recovered from day's low on Monday as crude slipped marginally on unconfirmed reports that Gaddafi is trying to make a deal to escape Libya with his wealth intact.

OPEC members to raise oil output to cool soaring prices and allay fears of a supply crunch in the west.

The Dow Jones Industrial Average ended down 80 points at 12,090, after seeing recovery of 50 points from day's low of 12,041.

The Nasdaq Composite ended down 39 points at 2,746, after seeing recovery of 22 points from day's low of 2,724. The S&P 500 index ended down 11 points at 1,310, after seeing recovery of 6 points from day's low of 1,304.

US Declining Sectors: Materials fell 1.8%, Tech tanked 1.4% and Consumer Discretionary fell 1%

Asian markets opened marginally higher; Kospi was up 0.6%. Nikkei and Taiwan were up 0.35%. Hang Seng and Straits Times gained 0.2%. Shanghai was flat. SGX Nifty fell 0.26% or 15 points at 5,468.

European markets ended lower: CAC was down 0.74%, DAX down 0.24% and FTSE down 0.28%.

Other markets; Market Vectors Egypt was up 0.4% while Spain Abu Dhabi down 0.37%.

CBOE VIX ended up 8.4% at 20.66,

Currencies

Dollar gained 15 bps versus Euro at 1.395

Yen was flat versus USD at 82.26

Commodities

CRB Commodity Index ended up 0.5%; seventh straight gain

April crude oil contract slipped to USD 105.44 after hitting USD 106.95, a fresh 2.5 years high

Crude oil fell for the first time in three days

April natural gas was up 2.5% at USD 3.93 per MMBtu, best levels in a week

April gold contract was up 0.5% at USD 1434.5/ounce, hit new all-time high at USD 1445.70

May silver contract gained 1.9% at USD 35.87/ounce, hit fresh 30 years highs at USD 36.70

Grains went down 2.2%, livestock fell 0.9% and industrials slipped 0.8%.

Data to watch

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