U.S. stocks on Monday ended a three-day winning streak, hampered by worries about Europe’s ability to stem a spreading debt crisis, with losses limited by strength in tech stocks.
n Europe, officials were meeting Monday in Brussels on possible steps to stabilize the region and avoid more costly bailouts, as Moody’s Investor Service downgraded Hungary’s public-debt rating, saying its fiscal policies would be insufficient for the long haul.
Disagreement among euro-zone members about the best solution for the region’s struggles weighed on sentiment heading into the U.S. session, and provided support for the U.S. dollar, Treasurys and gold.
“A combination of uncertainties that appear to have created indecisiveness on the part of equity investors appears to have sparked more capital flows into defensive positions such as the U.S. dollar and especially precious metals, “ wrote Colin Cieszynski, market analyst for CMC Markets Canada.
Stocks had recovered during the session, with the Dow headed for a fourth-straight day of gains, helped by hopes of more stimulus.
Bernanke, in an interview that aired Sunday night on CBS News’ “60 Minutes,” said the central bank could commit more funds to boost the recovery after last month announcing $600 billion in asset purchases.
http://www.marketwatch.com/story/us-stocks-begin-in-retreat-as-europe-weighs-2010-12-06?siteid=yhoof
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 11,362.19 |
|---|---|
| Trade Time: | 4:00PM EST |
| Change: |  19.90 (0.17%) |
| Prev Close: | 11,382.09 |
|---|---|
| Open: | 11,381.33 |
| Day's Range: | 11,350.27 -11,392.08 |
| 52wk Range: | 9,596.04 -11,505.80 |
No comments:
Post a Comment
Please remember...your comment should not contain nudity or vulger language in addition to advertisement of your blog/site or any product ...and should not hurt the readers emotions...if that will be case it will be removed on first review of admin staff... Regards