US STOCKS MIXED in quieter trade after Wed's volume-backed surge. Dow and S&P 500 off about 0.2% while Nasdaq up...
[US STOCKS MIXED] in quieter trade after Wed's volume-backed surge. Dow and S&P 500 off about 0.2% while Nasdaq up just 0.1%. Sector flow mixed in-kind, with tech and healthcare doing best while consumer discretionary up small amid strong US auto sales. Energy and financials under noted pressure, with latter hurt on Mass suit against major banks. Slippage in oil below $100 weighing on the energy sector after strong gains y'day on central bank liquidity moves. Elsewhere, materials weaker with lower CRB while defensives like staples and utilities little changed. Market internals suggest an underlying consolidate bias. Down stocks outnumber winners but below norm volume suggests big funds holding back. 18:24 GMT - [ST LOUIS FED PRESIDENT BULLARD] per Bloomberg interview says US economy would have to deteriorate to warrant more easing, adding recent data is stronger than expected. He also appears to downplay expectations for new Fed action at 1-day 13th FOMC meeting, saying that month is "not a natural meeting" for action. On inflation, he notes the US is in better shape than a year ago, and that headline inflation is the number "that matters" for policy. But many Fed members point out that core inflation over time is guide for headline. Shifting back to Europe's debt crisis, there is no 'silver bullet" in his view and a credible plan/fix will take 2-3 years to fulfill.
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