Breaking News

U.S. Stocks Off As Italy Again Leaps To The Fore

By Midnight TraderStock MarketsMar 27, 2013 04:12PM ET
U.S. Stocks Off As Italy Again Leaps To The Fore
By Midnight Trader   |  Mar 27, 2013 04:12PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Stocks trimmed their losses heading into Wednesday's close, finishing with narrow declines after ongoing political uncertainty in Italy overtook Cyprus as traders' primary worry. The Nasdaq managed to end just in the green. The Dow Jones Industrial Average backed away from yesterday's all-time high while the S&P 500 remain stalled just two points away from its best-ever close.

Italy Is A 'Mess'
Stocks fell earlier Wednesday after efforts to form an Italian coalition government failed. The head of Italy's center-left alliance, Pier Luigi Bersani, ruled out forming a coalition government and said that only an "insane person" would want to govern Italy, later saying the country is a "mess".

Elsewhere in Europe, Cypriot authorities were expected to announce capital controls later Wednesday in preparation for the country's supposed reopening of its banks on Thursday. The banks have been shuttered since March 16 to prevent a run on deposits.

U.S. Housing
On the domestic front, data showed contracts to buy previously owned U.S. homes fell last month, held back by a shortage of properties although there was little to suggest the housing market recovery was stalling. The National Association of Realtors said its U.S. Pending Home Sales Index slipped 0.4% during February. Economists had been expecting a 0.2%decline.

Commodity prices were mixed, with oil down $0.45, at $95.89 a barrel. Natural gas pushed through the $4 mark, up $0.063 to $4.054 per million BTUs.

Gold futures were up $5.90 at $1603.20 per ounce, while silver slipped $0.204 to $28.475 per ounce. Copper was up $0.0015 to $3.444.

Here's Where The Markets Stood At Day's End

  • Dow Jones Industrial Average down 33.49 (-0.23%) to 14,526.16
  • S&P 500 down 0.92 (-0.06%) to 1,566.85
  • Nasdaq Composite Index up 4.04 (+0.12%) to 3,256.52
  • Hang Seng Index up 0.69%
  • Shanghai China Composite Index up 0.14%
  • FTSE 100 Index down 0.24%
  • (+) UTSI, Shah Capital Management offered to buy the company's outstanding shares for $3.20 apiece.
  • (+) TROV, Said its urine-based test for the human papillomavirus test is now commercially available.
  • (+) RVLT, Climbs to new 52-week higher after introducing a new lighting product - a 15-watt tube lamp from LED manufacturer Seesmart acquired in December.
  • (-) ALLT, Speculation that the European recession is limiting orders to the company.
  • (-) ASTM, Said it is cutting about half of its workforce and making a strategic change in research and development programs.
  • (-) GV, Net income increases during 2012 to $0.47 per share from $0.03 per share in 2011. Revenue climbs 148% to $81.6 million.
After Hours Stock News From MidnightTrader.

Copyright © 2013 MT Newswires, a Division of MidnightTrader, Inc.
U.S. Stocks Off As Italy Again Leaps To The Fore

Related Articles

U.S. Stocks Off As Italy Again Leaps To The Fore

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post also to:
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email