US Stocks closed slightly lower Wednesday, paring deeper losses, after a drop in new home construction made investors jittery about the economic recovery and wary earnings outlooks weighed on the technology sector.
The Dow Jones industrial average (INDU) was down 11 points, or 0.1%, according to early tallies. The S&P 500 (SPX) fell less than one point, but remained above 1,100.
The tech-heavy Nasdaq composite fell (COMP) 10 points, or 0.5%.
Some analysts are saying "A lot of people were betting on a housing recovery. The decline in construction starts is probably making some people nervous."
LONDON - European stock markets generally stagnated on Wednesday in featureless trade and in the aftermath of a report pointing to persistent weakness in the US housing market.
In London, the market welcomed the appointment of Dutchman and supermarket boss Marc Bolland as the new chief executive of department store Marks & Spencer.
Bolland, 50, credited with reviving the fortunes of British supermarket chain Morrisons since his appointment there as chief executive in 2006, will replace Briton Stuart Rose at the start of 2010, M&S said in a statement.
Marks & Spencer was the day's big winner in London, gaining 5.89 per cent.
Overall, the FTSE 100 index slipped 3.8 points, or 0.07 per cent, to 5,372.13.
FRANKFURT - The Dax 30 edged up 9.18 points, or 0.16 per cent, to 5,781.61.
PARIS - The CAC 40 was stable, losing 0.9 point, or 0.02 per cent, to 3,828.16.
Oil prices briefly breached $US80 overnight after key data showed a heavier-than-expected drop in crude stocks in the United States, the world's biggest energy-consuming nation, traders said.
New York's main contract, light sweet crude for December delivery, rose as high as $US80.33.It later stood at $US79.46, up 32 cents from Tuesday's closing level.
The Australian share market has received mixed leads from overnight trading offshore, with Wall Street's key indices marginally lower, but commodities, including gold and oil, all higher.
At 0702 AEDT on the Sydney Futures Exchange, the December share price index contract was flat at 4,754.
In economic news on Thursday, the Reserve Bank of Australia releases its monthly bulletin, and the Australian Bureau of Statistics releases average weekly earnings data for the third quarter.
GOLD up $1.80 to US$1141.20 an ounce SILVER up 2.8c to US$18.415 an ounce COPPER up 0.2c at US$3.1105 a pound
Today's Financial Calendar
Japan all industry activity index, Sep UK retail sales, Oct UK public finances, Oct US Conference Board leading economic indicators, Oct US Philadelphia Fed economic activity index, Nov (ALL) - Management Presentation (AWE) - Annual General Meeting (BKW) - Ex div. 26.5c (BXB) - Annual General Meeting (CWK) - Annual General Meeting (FLX) - Ex div. 50.0c (FMG) - Annual General Meeting (GFF) - Annual General Meeting (IFN) - Site Tour (LIC) - Annual General Meeting (LSA) - Annual General Meeting (MGR) - Annual General Meeting (MRZ) - Annual General Meeting (MSF) - Annual General Meeting (MTN) - Annual General Meeting (MXR) - Annual General Meeting (NMI) - Annual General Meeting (ONC) - Annual General Meeting (PBP) - Annual General Meeting (PVA) - Annual General Meeting (RDF) - Annual General Meeting (RIM) - Annual General Meeting (SRE) - Annual General Meeting (SWK) - Annual General Meeting (TFC) - Annual General Meeting (THG) - Annual General Meeting (TTV) - Annual General Meeting (VNS) - Annual General Meeting (WWI) - Annual General Meeting (AEF) - Annual General Meeting (09:00 AM) (TGP) - Annual General Meeting (09:30 AM) (TNG) - Annual General Meeting (09:30 AM) (AUB) - Annual General Meeting (10:00 AM) (BND) - Annual General Meeting (10:00 AM) (CDM) - Annual General Meeting (10:00 AM) (CIR) - Annual General Meeting (10:00 AM) (EMS) - Annual General Meeting (10:00 AM) (KKT) - Annual General Meeting (10:00 AM) (MIN) - Annual General Meeting (10:00 AM) (NMR) - Annual General Meeting (10:00 AM) (SHL) - Annual General Meeting (10:00 AM) (TCN) - Annual General Meeting (10:00 AM) (UOG) - Annual General Meeting (10:00 AM) (VMS) - Annual General Meeting (10:00 AM) (VTG) - Annual General Meeting (10:00 AM) (AIE) - Annual General Meeting (10:30 AM) (BLP) - Annual General Meeting (10:30 AM) (CCC) - Annual General Meeting (10:30 AM) (RCP) - Annual General Meeting (10:30 AM) (RXL) - Annual General Meeting (10:30 AM) (AKF) - Annual General Meeting (11:00 AM) (AQR) - Annual General Meeting (11:00 AM) (CUS) - Annual General Meeting (11:00 AM) (CWE) - Annual General Meeting (11:00 AM) (ELK) - Annual General Meeting (11:00 AM) (GBI) - Annual General Meeting (11:00 AM) (NXS) - Annual General Meeting (11:00 AM) (SBM) - Annual General Meeting (11:00 AM) (STZ) - Annual General Meeting (11:00 AM) (TFC) - Annual General Meeting (11:00 AM) (VGP) - Annual General Meeting (11:00 AM) (GZL) - Annual General Meeting (11:30 AM) (RMP) - Annual General Meeting (11:30 AM) (AVI) - Annual General Meeting (12:00 PM) (ERL) - Annual General Meeting (12:00 PM) (ESS) - Annual General Meeting (12:00 PM) (LCT) - Annual General Meeting (12:00 PM) (CII) - Annual General Meeting (12:30 PM) (MHL) - Annual General Meeting (12:30 PM) (DGI) - Annual General Meeting (01:00 PM) (TEX) - Annual General Meeting (01:00 PM) (QXQ) - Annual General Meeting (01:30 PM) (MRK) - Annual General Meeting (02:00 PM) (PIO) - Annual General Meeting (02:00 PM) (PPP) - Annual General Meeting (02:00 PM) (UEQ) - Annual General Meeting (02:00 PM) (CYS) - Annual General Meeting (03:00 PM) (DYL) - Annual General Meeting (03:00 PM) (PBD) - Annual General Meeting (03:00 PM) (MDX) - Annual General Meeting (03:30 PM) (GCR) - Annual General Meeting (04:00 PM) (OZG) - Annual General Meeting (04:00 PM) (CCK) - Annual General Meeting (05:00 PM) (APZ) - Annual General Meeting (05:30 PM) (INL) - Annual General Meeting (05:30 PM) (VCN) - Annual General Meeting (06:00 PM)
The Most dangerous habits to have as a trader or investor.
Most investors cannot look at stocks objectively. They are always hoping and playing favourites, and they rely on their hopes and personal opinions rather than paying attention to the opinion of the marketplace, which is more frequently right.
