The equity markets are limping into the close again today after
news of a bipartisan budget deal, one that still faces a vote,
ignited jitters that the Federal Reserve has room to choke off some
liquidity. After stabilizing earlier this afternoon, the sell-off
in the Dow Industrial gained momentum into the close as traders
positioned themselves defensively before tomorrow's pivotal
economic data. Equities were also weighed down by year-end window
dressing and competition from the Treasury market with the 10-year
note luring yield-hungry investors.
Global markets were lower in sympathy with the U.S. as the
impact from higher U.S. rates could interrupt the fragile EU
economic rebound as well as send emerging markets reeling.
Investors are also frustrated by ECB Mario Draghi's reluctance to
consider non-traditional methods, such as quantitative easing, to
provide liquidity to European markets.
Here's where the markets stand at the close:
Dow Jones Industrial Index was down 129 (-0.8%) to 15,843
S&P 500 was down 20 (-1.1%) to 1,782
Nasdaq Composite Index was down 56 (-1.4%) to 4,003.81
FTSE 100 was down 0.24%
Nikkei 225 was down 0.62%
Hang Seng Index was down 1.71%
Shanghai China Composite Index was down 1.49%
MA, Announces a 10-for-1 stock split, a 83% increase in its
quarterly dividend to $1.10 per share and plans for a $3.5-bln
stock buyback program.
AAL Upgraded by JP Morgan to Overweight from Neutral with a
price target of $37.
CYTR Released encouraging results from a phase 2b clinical trial
investigating the efficacy and safety of its aldoxorubicin cancer
OPK Falls in reaction to an unfavourable Seeking Alpha
GEVO Plans to sell an undisclosed number of common stock units
and senior note units.
LH The stock was downgraded by analysts at Canaccord Genuity to
a Hold from a Buy and the price target cut to $91 from $115 per