Thursday, 27 December 2012

U.S MARKET UPDATE


U.S. stocks fell for a third straight day on Wednesday, dragged lower by retail stocks after a report showed consumers spent less in the holiday shopping season than last year.

     The Dow Jones industrial average slipped 24.49 points, or 0.19 percent, to 13,114.59 at the close. The Standard & Poor-s 500 Index shed 6.83 points, or 0.48 percent, to 1,419.83. The Nasdaq Composite Index dropped 22.44 points, or 0.74 percent, to 2,990.16.

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GOLD



Gold inched down on Thursday, giving up overnight gains in thin post-Christmas trade, with investors keeping a close eye on talks between the White House and Congress to prevent the U.S. economy from plunging into recession next year.

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BRENT CRUDE



Brent crude held most of those gains by mid-morning, up $1.76 or 1.6 percent at $110.56 a barrel by 1530 GMT, on track for its biggest one-day rise since mid-November. Volume was about one-sixth the average.
  

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COPPER



London copper rose to a one-week high on Thursday as the market reopened after the Christmas break, with Shanghai copper extending gains on data showing strong corporate profits in the world’s top copper consumer China..

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LME COPPER


LME copper could fall to $7,757 during the day as a weak rebound from last Thursday’s low of $7,735 seems to have ended, Reuters market analyst Wang Tao said.
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U.S. TREASURY

U.S. Treasury debt prices rose on Wednesday in light post-Christmas volume as disappointing holiday sales and the lack of progress toward a budget deal in Washington stoked safety bids for bonds.

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EURO

The euro traded at $1.3233, up 0.1 percent from late U.S. trade, but still below an 8-month high of $1.33085 hit last week.

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DOLLAR

The dollar rose to as high as 85.84 yen on trading platform EBS, its highest level since September 2010. The greenback last stood at about 85.79 yen, up 0.2 percent from late U.S. trade on Wednesday.
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U.S. STOCK

U.S. stocks fell for a third straight day on Wednesday, dragged lower by retail stocks after a report showed consumers spent less in the holiday shopping season than last year.
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ASIAN STOCK

Asian shares rose on Thursday amid caution about the chances of U.S. lawmakers striking a deal to avoid a fiscal crunch by December 31, while the yen hit a 21-month low against the dollar on the prospect of drastic monetary easing and massive state spending.

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