Portfolio

US close: Stocks slide on retail gloom

Date: Thursday 05 Jul 2012

US close: Stocks slide on retail gloom

US stocks finished the day broadly lower on Thursday, pushed into decline following reports that June had proved the worst month for retail sales in three years.

Also worrying investors was the news the European Central Bank has cut its key interest rate from 1% to 0.75% in a bid to boost struggling Eurozone economies, while the bank's deposit rate - the rate of return banks get for leaving money with the ECB overnight - will be cut to zero.

US macro-economic news

Initial weekly unemployment claims fell by 14,000 to 374,000 last week (Consensus: 385,000).

The ISM services sector purchasing managers´ index for the month of June has come in at 52.1 after 53.7 in May (Consensus: 53.0), led by drops in the sub-indices for production and new export orders.

The ADP employment report shows that a 176,000 jobs were created in June (Consensus: 100,000).

Company News

Media group Netflix leapt on news that its Chief Executive Officer revealed on Facebook that its subscribers watched more than one billion hours in aggregate of streamed entertainment from Netflix in June, the highest total in the history of the firm.

Shares in Apple also rose on Thursday after the Wall Street Journal communicated some of the recent speculation over the much-talked about "minipad", a smaller version of the iPad tablet.

Meanwhile AMD was lower after Sterne Agee analyst Vijay Rakesh reduced his rating on the chipmaker, citing forecasts of a slower PC market.

Retailers Costco and Target were both down following reports of the worst monthly sales in three years during June. Also hit by the news were Macy's and Buckle.

Other Markets

The March West Texas Intermediate crude futures contract fell by 0.5%, or $0.44, to $87.22 a barrel in NYMEX trading.

10-year US treasuries fell by 10/32 dollars, with yields at 1.59%.


S&P 500 - Risers
Netflix Inc. (NFLX) $81.70 +13.41%
Ross Stores Inc. (ROST) $67.25 +7.12%
Kohls Corp. (KSS) $47.14 +6.51%
Limited Brands Inc. (LTD) $46.24 +4.76%
Avon Products Inc. (AVP) $16.69 +4.64%
TJX Companies Inc. (TJX) $44.15 +3.88%
Newell Rubbermaid Inc. (NWL) $18.70 +3.20%
AutoNation Inc. (AN) $38.99 +3.19%
Sears Holdings Corp. (SHLD) $62.14 +3.17%
Macy's Inc. (M) $34.39 +3.09%

S&P 500 - Fallers
Sprint Nxtel Corp. (S) $3.31 -4.76%
Denbury Resources Inc. (DNR) $15.12 -4.00%
JP Morgan Chase & Co. (JPM) $34.44 -4.00%
Leucadia National Corp. (LUK) $21.39 -3.99%
Morgan Stanley (MS) $14.57 -3.57%
Genworth Financial Inc. (GNW) $5.68 -3.48%
Pioneer Natural Resources Co. (PXD) $88.14 -3.20%
Baker Hughes Inc. (BHI) $40.78 -3.16%
Tyson Foods Inc. (TSN) $17.91 -2.87%
Metropcs Communications Inc. (PCS) $6.38 -2.86%

Dow Jones I.A - Risers
Home Depot Inc. (HD) $52.19 +1.05%
McDonald's Corp. (MCD) $89.44 +0.97%
Caterpillar Inc. (CAT) $87.00 +0.62%
Boeing Co. (BA) $74.53 +0.35%
Wal-Mart Stores Inc. (WMT) $70.99 +0.34%
E.I. du Pont de Nemours and Co. (DD) $49.68 +0.18%
Alcoa Inc. (AA) $8.91 +0.17%
Procter & Gamble Co. (PG) $61.45 +0.15%
Travelers Company Inc. (TRV) $64.19 +0.09%
American Express Co. (AXP) $59.43 +0.03%

Dow Jones I.A - Fallers
JP Morgan Chase & Co. (JPM) $34.44 -4.00%
Bank of America Corp. (BAC) $7.83 -2.81%
Cisco Systems Inc. (CSCO) $16.96 -1.11%
Chevron Corp. (CVX) $106.27 -1.02%
Intel Corp. (INTC) $26.60 -0.95%
Coca-Cola Co. (KO) $78.54 -0.78%
AT&T Inc. (T) $35.74 -0.71%
Exxon Mobil Corp. (XOM) $85.67 -0.71%
Walt Disney Co. (DIS) $48.25 -0.70%
Pfizer Inc. (PFE) $22.72 -0.66%

Nasdaq 100 - Risers
Ross Stores Inc. (ROST) $67.25 +7.12%
Research in Motion Ltd. (RIMM) $7.68 +4.56%
Sears Holdings Corp. (SHLD) $62.14 +3.17%
O'Reilly Automotive Inc. (ORLY) $86.60 +2.66%
Baidu Inc. (BIDU) $117.33 +2.28%
Apple Inc. (AAPL) $611.98 +2.10%
Warner Chilcott Plc (WCRX) $18.62 +2.03%
Urban Outfitters Inc. (URBN) $28.11 +1.74%
VeriSign Inc. (VRSN) $45.01 +1.61%
Maxim Integrated Products Inc. (MXIM) $26.18 +1.59%

Nasdaq 100 - Fallers
Nll Holdings Inc. (NIHD) $9.92 -5.97%
Logitech International S.A. (LOGI) $10.44 -3.87%
Infosys Technologies Ltd. (INFY) $44.69 -2.95%
Life Technologies Corp. (LIFE) $43.30 -2.59%
Activision Blizzard Inc. (ATVI) $12.15 -2.45%
Citrix Systems Inc. (CTXS) $83.77 -2.16%
Garmin Ltd. (GRMN) $37.85 -2.04%
Lam Research Corp. (LRCX) $37.05 -2.04%
DIRECTV (DTV) $49.37 -1.83%
Apollo Group Inc. (APOL) $36.04 -1.58%



NR

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