The major indices pulled back on subprime worries, missed earnings
reports, and higher crude prices. The Nasdaq led to the downside
giving up 0.5% after tech bellwether Yahoo cut its earnings
forecast for the year and Intel reported lower profit margins.
Crude oil futures for August delivery rose 1.4%
to $75.05 a barrel after the weekly Energy Department report
showed a decrease in crude oil inventories. Gold futures for
August delivery rose 1.2% to $673.70 an ounce. To read today's futures market recap,
click here.
Around Europe, Germany's DAX index fell 1.8% to 7,893.61, France's
CAC 40 fell 1.7% to 5,995.97, and Britain's FTSE 100 fell 1.4% to
6,567.10.
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Market Snapshot |
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Volume |
3,483,403,000 |
2,175,093,000 |
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Strongest/Weakest Sectors |
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Strongest Sectors |
Weakest Sectors |
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Deutsche Bank Energy Index (DXE) |
Nasdaq Other Finance Index (OFINX) |
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Natural Gas
Index (XNG) |
PHLX/KBW Bank
Sector Index (BKX) |
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Airline Index (XAL) |
S&P Banking Index (BIX) |
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Economic
News |
| Core CPI m/m +0.2% vs +0.2%
consensus, +0.1% prior Core CPI y/y +2.2% vs +2.2% consensus, +2.2% prior
Housing Starts 1467 vs. 1450K consensus, prior revised to1434 K from
1474K
CPI m/m +0.2% vs +0.1% consensus, +0.7% prior
Building Permits 1406vs. 1480K consensus, prior revised to 1520K from
1501K -Update- |
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
