Saturday, March 05, 2011 2:32:04 AM
US Market Tumbles As Oil Prices Crosses $104 Mark, Financial Stocks Lose Ground
Market Watch:
Dow Jones Industrial Average lost 0.72 percent or 88.32 points to settle at 12,169.88, and NASDAQ Composite was down 0.50 percent or 14.07 points to 2,784.67. The Standard and Poor's 500 dropped 0.74 percent or 9.82 points to 1,321.15. Among other major indices, NYSE Composite fell 0.62 percent or 52.40 points to 8,413.05; however AMEX Composite gained 0.50 percent or 12.16 points to 2,419.85.
In the currency market, dollar gained 0.16 percent against euro, and 0.99 percent against the Japanese yen. However, dollar lost 0.02 percent against the British pound.
Commodities finished on a high today as cotton futures recorded a new high of $2.13 per pound. The CRB Commodity index added 0.6 percent, and the DJ-UBS Commodity index closed with gains of 0.52 percent. Crude oil prices added 2.71 percent or $2.76 to $104.67 per barrel, and natural gas was up 0.7 percent to $3.81 per MMBtu. Silver touched a new 30-year high of $35.41 per ounce before settling at $35.22 per ounce, up 2.6 percent. Gold prices were up 0.97 percent or $13.70 to $1,429.70 an ounce.
Global Markets:
The European market closed Friday's trading on a low note amid rising oil prices due to escalating tension in the MENA region. In Europe, the Stoxx Europe 600 index lost 0.6 percent to end trading at 281.9. Among national indexes, Great Britain's FTSE 100 lost 0.24 percent or 14.70 points to 5,990.39, and Germany's DAX was down 0.65 percent or 47.06 points to 7,178.90. France's CAC 40 fell 1 percent or 40.55 points to 4,020.21. On the contrary, the Asian market closed on a high note. Japan's Nikkei 225 gained 1.02 percent or 107.64 points to 10,693.66, and China's Shanghai Composite added 1.35 percent or 39.19 points to 2,942.17. However, India's BSE 30 Sensex closed marginally lower 0.02 percent or 3.31 points to 18,486.45.
Sector Watch:
Financial sector lost 1.26 percent to become the worst performing sector of the day. The SPDR KBW Mortgage Finance ETF (AMEX: KME) lost 5.25 percent or $2.30 to $41.52, and the Ultra Financial ETF (NYSEArca: UYG) was down 2.35 percent or $1.69 to $70.29. Among major stocks, Bank of America Corporation (NYSE: BAC: 14.13, -0.14) lost 1.19 percent or $0.17 to $14.11, and First Place Financial Corporation (NASDAQ: FPFC: 2.59, -0.66) tumbled 11.15 percent or $0.32 to $2.55. Newcastle Investment Corporation (NYSE: NCT: 7.31, -0.55) fell 7 percent or $0.55 to $7.31. The major gainer of the day was MediciNova Inc (NASDAQ: MNOV: 5.54, 1.84), which jumped 44.05 percent or $1.63 to $5.33, and the major loser was BSQUARE Corporation (NASDAQ: BSQR: 9.07, -2.65) with a loss of 22.61 percent or $2.65 to $9.07.
http://www.istockanalyst.com/article/viewarticlepaged/articleid/4944680/pageid/1
Market Watch:
Dow Jones Industrial Average lost 0.72 percent or 88.32 points to settle at 12,169.88, and NASDAQ Composite was down 0.50 percent or 14.07 points to 2,784.67. The Standard and Poor's 500 dropped 0.74 percent or 9.82 points to 1,321.15. Among other major indices, NYSE Composite fell 0.62 percent or 52.40 points to 8,413.05; however AMEX Composite gained 0.50 percent or 12.16 points to 2,419.85.
In the currency market, dollar gained 0.16 percent against euro, and 0.99 percent against the Japanese yen. However, dollar lost 0.02 percent against the British pound.
Commodities finished on a high today as cotton futures recorded a new high of $2.13 per pound. The CRB Commodity index added 0.6 percent, and the DJ-UBS Commodity index closed with gains of 0.52 percent. Crude oil prices added 2.71 percent or $2.76 to $104.67 per barrel, and natural gas was up 0.7 percent to $3.81 per MMBtu. Silver touched a new 30-year high of $35.41 per ounce before settling at $35.22 per ounce, up 2.6 percent. Gold prices were up 0.97 percent or $13.70 to $1,429.70 an ounce.
Global Markets:
The European market closed Friday's trading on a low note amid rising oil prices due to escalating tension in the MENA region. In Europe, the Stoxx Europe 600 index lost 0.6 percent to end trading at 281.9. Among national indexes, Great Britain's FTSE 100 lost 0.24 percent or 14.70 points to 5,990.39, and Germany's DAX was down 0.65 percent or 47.06 points to 7,178.90. France's CAC 40 fell 1 percent or 40.55 points to 4,020.21. On the contrary, the Asian market closed on a high note. Japan's Nikkei 225 gained 1.02 percent or 107.64 points to 10,693.66, and China's Shanghai Composite added 1.35 percent or 39.19 points to 2,942.17. However, India's BSE 30 Sensex closed marginally lower 0.02 percent or 3.31 points to 18,486.45.
Sector Watch:
Financial sector lost 1.26 percent to become the worst performing sector of the day. The SPDR KBW Mortgage Finance ETF (AMEX: KME) lost 5.25 percent or $2.30 to $41.52, and the Ultra Financial ETF (NYSEArca: UYG) was down 2.35 percent or $1.69 to $70.29. Among major stocks, Bank of America Corporation (NYSE: BAC: 14.13, -0.14) lost 1.19 percent or $0.17 to $14.11, and First Place Financial Corporation (NASDAQ: FPFC: 2.59, -0.66) tumbled 11.15 percent or $0.32 to $2.55. Newcastle Investment Corporation (NYSE: NCT: 7.31, -0.55) fell 7 percent or $0.55 to $7.31. The major gainer of the day was MediciNova Inc (NASDAQ: MNOV: 5.54, 1.84), which jumped 44.05 percent or $1.63 to $5.33, and the major loser was BSQUARE Corporation (NASDAQ: BSQR: 9.07, -2.65) with a loss of 22.61 percent or $2.65 to $9.07.
http://www.istockanalyst.com/article/viewarticlepaged/articleid/4944680/pageid/1
My post is for my own entertainment, do your own DD
before pushing your buy/sell buttons
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