Sharechat Logo

While you were sleeping: Wall St flat, Bernanke speaks

Tuesday 8th December 2009

Text too small?

Shares on Wall Street were little changed ahead of a speech by Federal Reserve Chairman Ben Bernanke. In his speech, which began a short time ago, Bernanke said the US economy would need more time to recover.

At midday, the Dow Jones Industrial Average rose .29% to 10,418.83 and the Standard & Poor’s 500 gained 0.16% to 1107. The Nasdaq Composite rose 0.06% to 2195.68.
 
Among the biggest gainers were Verizon, Boeing, Alcoa, AT&T and American Express. Caterpillar and Pfizer were among the biggest decliners.
 
For the most part, Wall Street was little changed ahead of a speech by Federal Reserve Chairman Ben Bernanke.
 
The Chicago Board Options Exchange Volatility Index, or VIX, which is known as Wall Street’s ‘fear gauge’ rose 3.1% to 21.91.

The U.S. dollar rose 0.2% to US$1.4831 per euro, extending gains after Friday’s jobs report. The yen strengthened 0.9% to 89.73 against the dollar and 1.1% to 133.09 per euro.
 
The Dollar Index, which measures the greenback against a basket of six major currencies, declined 0.2% to 75.914.
 
U.S. Treasuries were higher on hopes that Bernanke would say the economy might not be as strong as some recent measures suggested.

The Reuters/Jefferies CRB Index, which tracks 19 raw materials, fell 0.47% to 272.58.
 
Both oil and gold fell as the U.S. dollar advanced, in part as expectations shifted on the timing of a change in interest rate policy. Friday’s jobs data was interpreted by some investors as a sign that rates might rise sooner than later.
 
Crude oil for January fell 92 cents to US$74.55 a barrel on the New York Mercantile Exchange.

Copper fell for a third day. Copper for March fell 5.5 cents to US$3.1825 a pound.

Gold fell 1.9% to US$1147.40.

In Europe, The Dow Jones Stoxx 600 Index fell 0.46% to 247.88. Among national benchmarks, the U.K. ’s FTSE 100 fell 0.22% to 5310.66 and Germany ’s DAX 30 fell 0.57% to 5784.75. France ’s CAC 40 rose 1.08% to 3840.05.
 
Weaker bank shares were the main reason why stocks slid in Europe on Monday led by HSBC, Barclays and Credit Suisse. Germany ’s Siemens fell after a broker downgrade.

 

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report