Mon 23 Apr 2012 14:30:01 CT
The June S&P 500 traded in negative territory throughout the US trading session, pressured by a batch of weak manufacturing data points in China, Germany and Europe. There were also concerns surrounding the European debt situation, with an uncertain election in France and the resignation of a Dutch Prime Minister after failed talks over the weekend. This pressured the June S&P 500 down toward its April 10th low. The weakness in the market also seemed to come in the wake of disappointing corporate news reports. Shares of Wal-Mart were down nearly 5.0% on the session and a big draw for the Dow Jones Index after reports that the company halted an internal investigation into a Mexican bribery case. There was more disappointment in the market after Kellogg's lowered their full-year revenue and earnings guidance below market expectations. Its shares were down more than 5.0% during the session. Most of the major S&P sector indices were in negative territory, led by weakness in materials and industrial-related shares. Market breadth on the New York Stock Exchange was negative throughout the session, but improved from its worst levels throughout the afternoon.
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.