Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


U.S. Stocks Remain in Red Territory

Tuesday, March 12, 2013 12:06 PM
U.S. stocks continued to hover in red territory by mid-day trade on Tuesday as sentiment was slightly downbeat following disappointing economic data from the U.K, which overshadowed successful bond auctioning in Italy and Spain and better than expected small business optimism reading in the U.S. However, stocks are still hovering around all-time high level. At last check, Dow Jones Industrial Average Index slipped 0.04%; the NASDAQ Composite Index fell 0.49% while the S&P 500 Index lost 0.27%. A data provided by the National Federation of Independent Business showed that small-business optimism index for February rose to 90.8 from 88.9 in January, edging past analysts’ expectation of 90. Shares of VeriFone Systems (NYSE: PAY) gained about 5.50% by midday trade as the maker of card-payment systems announced that its CEO, Douglas Bergeron, will step down from his role after remaining for 12 year at the helm of affairs. Shares of Yum! Brands Inc. (NYSE: YUM) edged up after the parent Company of KFC, Pizza Hut and Taco Bell said that same-store sales in China fell less than expected in first two months of 2013.  Sales fell sharply at its KFC stores in China during last two weeks of December following TV report which showed that some of its chicken products contained more-than-desired levels of antibiotics and hormones. As result Chinese consumers deserted KFC stores in droves. The Company was expecting 25% drop in same-store-sales at its KFC stores but it fell by 24% while same-store-sales at Pizza Hut rose 2%. In the U.K. manufacturing output in January contracted 1.5%, while economists’ expectation was for 0.1% increase. Following the data release the Pound Sterling fell to its 2-½ year low against the U.S. dollar. Spain and Italy successfully raised its targeted amount of money through successful bond auctioning although borrowing cost for Rome rose sharply. The Pan European Stoxx 600 Index was inching up 0.07%, FTSE was gaining 0.26% while DAX was down 0.32%, at last check.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

BP second-quarter profit rises 34 percentBP second-quarter profit rises 34 percent
(Reuters) - BP Plc reported a 34 percent rise in quarterly profit and said it would pay a dividend of 9.75 cents a share for the quarter ended June 30. Underlying replacement cost profit increased t...
China's Hangzhou city eases home purchase restrictionsChina's Hangzhou city eases home purchase restrictions
HONG KONG (Reuters) - Hangzhou, one of the cities in China most deeply affected by an oversupply of housing and weakening property prices, has announced fresh moves to ease home purchase restriction...
Exclusive: Goldman unit eyes foray into China amid metals financing scandalExclusive: Goldman unit eyes foray into China amid metals financing scandal
NEW YORK/SYDNEY/LONDON (Reuters) - Goldman Sachs Group Inc`s metals warehousing unit is exploring its first foray into China, and privately held C Steinweg has expanded capacity there, sources said,...
Jaded Argentines brace for looming debt defaultJaded Argentines brace for looming debt default
BUENOS AIRES (Reuters) - Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina`s 2001-...
Argentine debt defiance may strengthen holdouts' legal positionArgentine debt defiance may strengthen holdouts' legal position
NEW YORK (Reuters) - Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. The holdouts, led by Paul Singer`s Elliott...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.