Gold Member
Posts: 24638
Liked By: 14428
Joined: 16 Apr 12
Followers:
6
Tipsters
Championship:
Player
has
not started
|
US market closes mixed on concerns over retailers’ bottomline I | | | | From: NetResearch Asia [[email protected]]
Sent: Tuesday, November 27, 2012 9:45 AM
To: NetResearch Asia 27 Nov 2012
Subject: US market closes mixed on concerns over retailers’ bottomline
Pre-Market Open Commentary for 27 November
2012
( CO. REG. NO.
199904258C )
DJIA: 12967.37 -42.31
Nasdaq Composite: 2976.78 +9.93 Good morning, fellow investors
US stock market closed mixed on Monday following weakness on retail shares
on concerns about heavy discounts at the start of the US holiday shopping
season which could eat into retailers’ bottomline. The Dow Jones Industrial
Average and S&P 500 slipped 0.33% and 0.20% respectively. Bucking the trend
was the Nasdaq which gained 0.33% led by gains in eBay. Shares of eBay rose
4.9% to US$51.40 following reports its PayPal unit enjoyed a 193% YoY
increase in mobile payment volume on Black Friday. Amazon shares also
advanced, gaining 1.6% to US$243.62.
Lingering concerns over the upcoming economic negotiations in Washington
and Europe further weighed on market sentiment. Sentiment has picked up
after leaders of the Senate and House emerged from the first-post-election
meeting at the White House, indicating they would be flexible in efforts to
settle fiscal policy differences. However, there remains lingering doubts
on whether a quick agreement can be reached.
Also weighing on market is the meeting between euro zone finance ministers
and the International Monetary Fund (IMF) as they make their third attempt
to agree on releasing emergency aid for Greece, with policymakers saying a
write-down of Greek debt is off the table for now.
On Tuesday, market will assess the US manufacturing sector through report
on durable goods orders. Global manufacturing data has shown a mixed
picture in November with the manufacturing industry in the US and China
exhibiting signs of improvement in November but a report last week showed
that the European manufacturing sector are still contracting.
Crude oil for January delivery slipped US$0.54 a barrel to settle at US
$87.74 a barrel.
In Singapore today:
Asian stock markets ended mixed on Monday as investors stayed cautious
ahead of a key meeting amongst euro zone ministers on Monday. The Shanghai
Composite index, the Hang Seng and the Kospi fell 0.49%, 0.24% and 0.15%
respectively. However, the Nikkei 225 hit a seven-month high after gaining
0.24% on the back of a weaker yen.
Singapore shares opened higher following a strong finish to an abbreviated
session on Wall Street last Friday though bouts of profit-taking trimmed
some of the day’s earlier gains. At closing, the STI index rose 15.22
points, or 0.51%, to 3004.50 with strong resistance at 3030 eyed. Market
breadth also fell throughout the day to 3 gainers for every 2 losers.
Turnover was 1.99 bil shares with a value of $919.7 mil traded.
Expect range-bound trading on the local bourse today as market participants
are likely to remain on the sidelines amid uncertainties pertaining to the
negotiations between US lawmakers to cut out a deal to avert the “fiscal
cliff” and between the euro zone finance ministers and IMF to finalize the
details of a debt-reduction package for Greece.
1. Chartzones – 27 November 2012 (premium)
Media, China Stocks and Technology Stocks [read the report] | |
....
|
Main Menu >
Stocks, FX, Cryptocurrencies & Commodities Forum >
US market closes mixed on concerns over retailers’
[ 301 Chatters Online
]
1
) 
Find all Topics Started by stand up n wake up
Find all Posts by stand up n wake up
Follow / Unfollow
PM stand up n wake up
27-Nov 2012 Tuesday
1:10 PM (4169 days ago)
0 Likes
Like
