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12 Jun 2014
Wall Street continues to shed gains
FXStreet (Guatemala) - U.S. stocks dropped back again, with the Standard & Poor’s 500 Index dropping the most in some weeks.
Iraq violence took the headlines and has seen oil rocket to an eight month high while the economic data missed estimates. The S&P 500 dropped to 1,930.05 which was extending the losing phase after a number of record closing highs and the Dow Jones Industrial Average fell 110.30 points, to 16,733.58. The Nasdaq Composite Index lost almost a full 1 percent.
Three rounds of bond buying by the Federal Reserve have managed to see the S&P 500 higher by as much as 188 percent from its bear-market low in March 2009. Todays data came in the form of the US May retail sales rises 0.3%, below consensus for 0.6% rise and US weekly jobless claims that rose to 317,000 from 310,00.
Iraq violence took the headlines and has seen oil rocket to an eight month high while the economic data missed estimates. The S&P 500 dropped to 1,930.05 which was extending the losing phase after a number of record closing highs and the Dow Jones Industrial Average fell 110.30 points, to 16,733.58. The Nasdaq Composite Index lost almost a full 1 percent.
Three rounds of bond buying by the Federal Reserve have managed to see the S&P 500 higher by as much as 188 percent from its bear-market low in March 2009. Todays data came in the form of the US May retail sales rises 0.3%, below consensus for 0.6% rise and US weekly jobless claims that rose to 317,000 from 310,00.