Wall Street Ends Lower; Investors On The Lookout

Posted On 26 Mar 2015
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Tag: Wall street ends lower, Wall street ends poorer

Stocks on Wall Street ended lower on Tuesday for a second day, after investors weigh up the news of companies and the latest report on consumer prices.

Indications that the dollar could resume its recent rally also unnerved investors.

The construction showed a different trend, with a close higher after sales of new US homes rose in February to its highest pace in seven years.

The markets closed with losses for two consecutive days. Declines occurred after a good time last week when establishing the policies of the Federal Reserve surprised investors by suggesting that there was no hurry to raise interest rates. These low rates have helped generate an uptrend for six years on the market.

“We are in a sort of holding pattern as markets continue to digest what’s happening,” said Kristina Hooper, investment strategist in the US for Allianz Global Investors.

The Standard & Poor’s 500 index fell 12.92 points, or 0.6%, to 2.091.50 points on Tuesday, while the Dow Jones industrial average lost 104.90 points, or 0.6%, to 18011.14. The Nasdaq composite lost 16.25 units, 0.3% to settle at 4994.73 units.

The market remained little changed throughout the morning before suffering a fall afternoon.

The fall in stocks coincided with a boost in the dollar. The dollar began the day with losses against the euro before recovering.

The dollar index, which measures the strength of the US currency against a basket of other currencies like the euro and the Japanese yen, has risen 15% in the last six months.

The increase was reflected in profits for companies such as Coca-Cola and Caterpillar, whose profits depend largely on its sales abroad. Companies in the S & P 500 begin to report results for its first quarter next month.

In the energy market, the price of US crude had a slight gain after traders anticipate the publication of the weekly supply information. The US benchmark crude rose 6 cents to $ 47.51 a barrel in New York.

Brent crude, a benchmark for international oil used in many US refineries, lost 81 cents to settle at $ 55.11 in London. The price fell due to poor Chinese manufacturing data that suggest a low global demand.

Prices rose in the government bond market, which dragged down the yield on the benchmark 10-year Treasury to 1.87% compared to 1.91% on Monday.

The dollar gained against the euro and the Japanese yen. Before the euro, the dollar was sold at $ 1.0924 and against the yen rose to 119.72.

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