US mkts end flat as no major cues from FOMC minutes
The Dow Jones Industrial Average ended up 21 points at 11691; the Nasdaq Composite was down 10 points at 2681 and S&P 500 down 2 points at 1270.
January 05, 2011 / 08:36 IST
By Varinder Bansal, Research Analyst at CNBC-TV18
The US markets ended flat as no major cues from FOMC minutes. Commodities witnessed profit booking on Tuesday.The Dow Jones Industrial Average ended up 21 points at 11691; the Nasdaq Composite was down 10 points at 2681 and S&P 500 down 2 points at 1270.Russell 2000 (small-cap) fell 1.6% while the S&P 400 (mid-cap) was down 1.1%.European markets ended mixed: CAC was up 0.4% while DAX down 0.2%. FTSE rose 1.93% (opened after 2 days).Asian markets opened almost flat; Kospi was down 0.3%. Nikkei and Straits Times were flat. Taiwan rose 0.2%. FOMC minutesEconomic recovery hadn't gained enough strength to warrant a change in the Fed's USD 600 billion bond-buying programConcerned about downside risk, especially as it relates to housingGlobal Economic NewsUS factory orders for November increased 0.7% after declining 0.7% in October; market expected decline of 0.3% CurrenciesDollar Index rose 0.3% on TuesdayDollar was up 67 bps versus Euro at 1.3267Yen lost 27 bps versus USD at 82.12 CommoditiesCRB Commodity Index fell 1.6%Precious metals shed 3.6% and soft commodities were down 2.7% March silver shed 5.1% at USD 29.51/ounceFebruary gold contract was down 3.2% at USD 1378.8/ounceFebruary crude oil contract was down 2.4% at USD 89.38/barrel, hit its worst levels in nearly 2 weeks during the dayFebruary natural gas was up 0.1% at USD 4.66 per MMBtu Baltic Dry Index was down 4.5%.Sugar was down 3.2%. Data to watchMBA mortgage applications, Challenger job-cut report, ADP employment report, ISM non-manufacturing index, oil inventories 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!
