News Column

Dow Down -- on a Tuesday

June 4, 2013
wall street bull and bear

The Dow Jones industrial average dropped Tuesday, putting an end to what was one of the oddest records in the history of the exchange.

Stocks have been on a prolonged sprint higher, but the Dow had, until this Tuesday, put together an unprecedented streak of winning Tuesdays -- 20 in a row that has now come to a halt.

Economic news was uneven. The Bureau of Economic Analysis said the U.S. trade deficit jumped from $37.1 billion in March to $40.3 billion in April. A business index showed manufacturing in New York City expanded in May.

In Britain, construction returned to marginal growth in May.

In New Mexico, MarketWatch reported, Kansas City Federal Bank President Esther George canceled a speech but prepared remarks put her in the position of advocating for pulling back the reins on the central bank's $85 billion per month asset purchasing program.

The DJIA gave up 76.49 points, 0.5 percent, to 15,177.54. The Standard & Poor's 500 index lost 9.04 points, 0.55 percent, to 1,631.38. The Nasdaq composite index dropped 20.11 points or 0.58 percent to 3,445.26.

On the New York Stock Exchange, 1,135 stocks advanced and 1,921 declined on volume of 3.6 billion shares.

In Japan, the Nikkei 225 index gained 2.05 percent of 271.94 points to 13,533.76.

In Britain, the FTSE 100 added 0.51 percent or 33.46 points to 6,558.58.

The 10-year treasury note fell 9/32 to yield 2.155 percent.

Crude oil prices added 26 cents to reach 93.71 a barrel on the New York Mercantile Exchange.

NYMEX gold shed $13.10 to reach $1,398.80 per troy ounce.

On currency markets, the euro rose to $1.3081 from Monday's $1.3077. Against the yen, the dollar was higher 100.06 yen from 99.54 yen.




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Source: Copyright UPI 2013


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