Feedback
Recap Stock Index Market Report
Wed 22 Feb 2012 15:18:01 CT
Related Keywords: Equity Index
Related Keywords: Equity Index
The March S&P 500 trended lower throughout the session, spending most of the US trading hours in negative territory. Initial weakness seemed to come in the wake of Chinese PMI data that showed its fourth consecutive month of contraction and weaker than expected service sector data out of Europe. Risk appetites might have also been contained by renewed concerns that Greece might not be able to implement new austerity reforms. This morning's US economic data showed a somewhat positive January existing home sales report that rose to its best level in 1.5 years. However, shares of Toll Brothers were down nearly 5% early in the session after reporting a quarterly loss from fewer deliveries and a greater number of contract cancellations. A disappointing earnings report from Dell after yesterday's close, which forecasted revenue targets below expectations, pressured its shares down by more than 6% on the session. Financial shares were the downside leaders on the session, with banks as a group falling 2.0%. Hewlett-Packard reports their latest quarterly results after the close today.
View All Market Commentary
View All Market Commentary
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
