Business News

US stocks drop; Dow loses 0.52%

| More

US stocks ended lower overnight with the Dow 0.52 per cent lower.

The Dow lost 68.94 points, or 0.52 per cent, to 13,710.19.

The Nasdaq dropped 4.17 points, or 0.14 per cent, to 3074.15.

The S&P 500 was 4.23 points, or 0.3 per cent, lower to 1405.52.

Privately-owned housing starts fell 1.1 per cent, according to the US Department of Commerce. Building permits increased 5.1 per cent.

In news, BHP Billion said iron ore prices are flattening due to slower Chinese economic growth outlook, but there were different interpretations of the news. BHP Billiton shares fell US$2.50, or 3.31 per cent, to US$73.01.

To earnings, Tiffany reported net income of US$178 million, or US$1.39 per share, down from US$181 million, or US$1.41 per share, in the same quarter a year earlier. Worldwide net sales were up eight per cent to US$1.2 billion. Shares gained US$4.59, or 6.68 per cent, to US$73.27.

Adobe reported earnings a day earlier. Shares overnight lost US$1.35, or 3.91 per cent, to US$33.16.

Yesterday in Australia, the S&P/ASX 200 lost 15.8 points, or 0.37 per cent, to 4275 and the All Ords was 15.6 points, or 0.36 per cent, lower to 4365.6.

Oil this morning was at US$105.61 per barrel and gold was at US$1650.70 per ounce. The Australian dollar was buying 104.74 US cents, 66.05 pence Sterling, 79.21 euro cents and 87.65 Japanese yen. 

Published on: Wednesday, March 21, 2012

blog comments powered by Disqus

Today on Switzer



  • skynews9093140038

    Michael McCarthy

    Video

    For a look at the latest reporting season action – plus why Qantas’ share price went up after its record loss – Michael McCarthy of CMC markets joins the program. (Broadcast Thursday 28 August 2014.)

    See more

  • skynews9093144038

    Ross Benson

    Video

    Ross Benson of locally listed 99 Wuxian joins Switzer TV to discuss the company’s involvement with mobile commerce in mainland China, plus a possible move to Nasdaq. (Broadcast Thursday 28 August 2014.)

    See more


Subscribe_normal_normal

  THE SWITZER FEED
Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300