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US markets follow Europe’s strong lead before selling off $HPQ $ZBc1 $AA $HD
Last Updated on Wednesday, 21 September 2011 10:27
- Markets had a strong start with the S&P500 rising to a high of 1220.39 before pulling back on concerns that the ongoing debt negations between Greece and its European counterparts could drag on for some time yet with the risk that negotiations could fall apart
- Traders are also investing in long term Treasuries as they position themselves for a potential announcement of a bond purchasing program where the Fed will sell short dated and buy long date bonds
- Housing in the US continues to stagnate with fewer homes being built in August. Builders broke ground on 571k homes in August, a three month low and a 5% decline from July
- Leading the moves on the Dow were AA down 2.85%, HPQ down 1.92% and HD which managed to rise 1.34 overnight
- Dow Jones 0.07% S&P500 –0.17% NASDAQ –0.86%
- Gold rallied on pending Euro and Fed news, Crude rallied overnight
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
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