Fool Trader KLSE Research

Morning Coffee - 17 Jan 2013

fooltrader
Publish date: Thu, 17 Jan 2013, 09:38 AM
MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Fall as World Bank Offsets Apple Rally; as a cut in the World Bank's growth forecasts offset a rally in Apple (AAPL) Inc. as investors watched earnings. Three stocks retreated for every two rising on U.S. exchanges at 4 p.m. New York time. The Standard & Poor's 500 Index advanced less than 0.1 percent to 1,472.63. The Dow Jones Industrial Average declined 23.66 points, or 0.2 percent, to 13,511.23. About 5.6 billion shares changed hands on U.S. exchanges, or 8.6 percent below the three-month average. The World Bank cut its global growth forecast for this year as austerity measures, high unemployment and low business confidence weigh on economies in developed nations. German Chancellor Angela Merkel's government cut its growth forecast for Europe's biggest economy. Luxembourg Prime Minister Jean- Claude Juncker said the strength of the euro poses a threat to the region's economy.

Oil Trades Near Four-Month High After Crude Stockpiles Decline; as stockpiles unexpectedly declined and petroleum consumption rose in the U.S., the world's biggest crude-consuming nation. West Texas Intermediate futures were little changed after climbing the most in two weeks yesterday. U.S. crude supplies slid 951,000 barrels last week, Energy Department figures show. They were forecast to increase 2.2 million barrels, according to a Bloomberg News survey of analysts. Fuel consumption climbed from the lowest level since March, the report showed. Crude for February delivery was at $94.08 a barrel, down 16 cents, in electronic trading on the New York Mercantile Exchange at 10:43 a.m. Sydney time. The contract advanced 1 percent to $94.24 yesterday, the most since Jan. 2 and the highest close since Sept. 18. Prices dropped 7.1 percent last year.

Jupiter Securities Research - 17 January 2013
More articles on Fool Trader KLSE Research
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment