US Markets ended the week on a negative note as investors booked profit - Eastern Financiers

US Markets ended the week on a negative note as investors booked profit. The Dow Jones Industrial average ended flat at 16469.99. While the broad-based S&P 500 lost 0.54 percent to shut shop at 4131.91 and the tech-rich Nasdaq stumbled 0.59 percent to finish at 4131.91.

European stocks ended the week on a hawkish note as investors sold equities on mixed economic data. The DAX emerged as the biggest loser, shedding 1.63 points to end at 9433.15. While the FTSE lost 0.30 percent to conclude trade at 6730.67, CAC shrugged-off 0.70 percent to end at 4247.65.

Asian markets ended mixed, tracking week global cues. Except the Nikkei and Taiwan Indices, all other regional indices ended lower, losing between 0.86-2.80 percent.

Contracts to purchase previously owned U.S. homes edged up in November, marking the first increase in six months and providing a hopeful sign the sector has begun to stabilize after its momentum was sapped by rising mortgage rates. Pending Home Sales Index, based on contracts signed last month, rose 0.2 percent from October, to 101.7. But contracts were 1.6 percent below last November's levels.

Italian manufacturing business confidence improved for the eighth consecutive month in December, inching up to 98.2 to reach its highest level since August 2011. The November figure was 98.0, revised down from 98.1. Sentiment among makers of consumer and intermediate goods improved, while it worsened among makers of capital goods. Economic sentiment indicator, a composite business confidence index spanning all sectors, also improved slightly, to 83.6 in December from a downwardly revised 83.2 in November.

The number of people who filed for unemployment assistance in the U.S. last week fell less-than-expected, dampening optimism over the U.S. labor market. The number of individuals filing for initial jobless benefits in the week ending December 28 declined by 2,000 to a seasonally adjusted 339,000.

Continuing jobless claims in the week ended December 21 fell to 2.833 million from 2.931 million in the preceding week. The four-week moving average was 357,250, an increase of 8,500 from the previous week's average of 348,750.

Britain's construction industry enjoyed its second-fastest month of growth in more than six years in December, helped by the biggest increase in commercial projects since 2007. The Markit/CIPS construction PMI fell to 62.1 in December from November's reading of 62.6, the index's highest level since August 2007.

Source : Equity Bulls

Keywords