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Mid-Session Stock Index Market Report
Tue 04 Sep 2012 11:11:14 CT
Related Keywords: Equity Index
Related Keywords: Equity Index
After a positive start, US equity markets surrendered early gains and slipped to a fresh three-week low. Early support came in response to ideas that the ECB was closer to another round of bond purchases at this week's policy meeting. Meanwhile, US economic data this morning on Construction spending and Manufacturing came in weaker than expected, adding more evidence to a struggling economy. Reports that US manufacturing contracted for the third month in a row sent the major indices to their low of the morning. Tech-related shares were also weaker, pressured by declines in Amazon and Netflix. Meanwhile, August US Auto Sales were on track to come in better then expectations. The biggest laggards on the market this morning were material and industrial-related shares.
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*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.
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