Rally Comes To A Halt; Dow Falls 247

The U.S. equity market fell on Monday after disappointing earnings from Wells Fargo WFC and cautious comments out of Germany on the long-term prognosis for the European debt crisis. The Dow Jones Industrial Average lost 247 points to close at 11,397. The widely watched blue-chip index traded in a range between 11,378 and 11,643. The SPDR S&P 500 ETF SPY lost 1.91% to $120.23. Volume was light with just 202.3 million SPY shares trading hands compared to a 3-month daily average of 309 million. The PowerShares QQQ Trust ETF QQQ, which tracks the performance of the Nasdaq 100, shed 1.55% to $57.28. Year-to-date, the QQQ is up 5.18%. Crude oil ended its recent rally, with NYMEX crude futures losing 0.66% to $86.23 on the session. ICE Brent futures fell 2.15% to $109.82 and the United States Oil Fund ETF USO lost 1.30% to $33.43. Gold also fell on reduced risk appetite. COMEX gold futures were lower by 0.65% to $1,672. The SPDR Gold Trust ETF GLD fell 0.48% to close the NYSE trading session at $162.62. COMEX silver futures lost 1.24% to $31.775 on the day. Treasuries rallied as money flowed into bonds and out of riskier assets. The iShares Barclays 20+ Year Treasury Bond ETF TLT climbed 1.73% to $115.92. The yield on the 10-Year note fell 9.3 basis points to 2.15%. The U.S. Dollar also benefited from safe-haven flows on Monday. The PowerShares DB US Dollar Index Bullish ETF UUP, which tracks the performance of the greenback versus a basket of foreign currencies, surged 0.65% to $21.79. The closely watched EUR/USD pair is currently trading at $1.3737.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BondsBroad U.S. Equity ETFsFuturesCommoditiesCurrency ETFsForexIntraday UpdateMarketsMoversETFs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!