US mkts continue to consolidate amid uninspiring eco data
The Dow Jones Industrial Average ended down 26 points at 11,697. The Nasdaq Composite rose 8 points at 2710 while the S&P 500 Index fell 3 points at 1274.
January 07, 2011 / 08:48 IST
By Varinder Bansal, Research Analyst at CNBC-TV18
The US markets continued to consolidate amid uninspiring economic data on Thursday.
The Dow Jones Industrial Average ended down 26 points at 11,697. The Nasdaq Composite rose 8 points at 2710 while the S&P 500 Index fell 3 points at 1274.US Declining Sectors: Telecom fell 2.8%, Energy was down 0.7% and financials declined 0.6%.Asian markets opened flat; Kospi, Nikkei, Taiwan and Straits Times were flat.European markets ended mixed: DAX was up 0.6% while FTSE fell 0.4%. CBOE VIX rose 2.2% at 17.4. US Economic NewsInitial jobless claims went up 18,000 at 409,000, against expected 405,000 Continuing claims were down 50,000 from the prior week to 4.10 millionRetailers reported weaker-than-expected December sales; rose 3.1% in December against expected increase of 3.4%CurrenciesDollar was up 1% versus Euro at 1.29968Yen fell 7 bps versus USD at 83.32CommoditiesSugar futures fell 6.1% at USD 0.3024 per poundFebruary crude oil contract shed 2.1% at USD 88.38/barrel on Thursday; were down sharply for last 2 daysCrude oil has lost over 4% since 2-year highFebruary natural gas was down 1.1% at USD 4.43 per MMBtu February gold contract went down by USD 2 to USD 1371.7/ounce; declined for a fourth consecutive sessionSilver was down 7.2 cents at USD 29.13/ounce Baltic Dry Index was down 4.7%Data to watchNonfarm payrolls report, consumer credit; Fed Chairman Bernanke speaks Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
