| Global Market Wrap-Up - February 24, 2012 |
February 24, 2012 - 6:49pm — mhanna
U.S. stocks finished mixed Friday on very light trading. While both the S&P 500 and NASDAQ gained 0.2% the Dow Jones Industrial Average was flat and the broader Russell 2000 was down 0.3%. With a lack of news, investors keyed on technical measures, the most important being the 2011 highs on the S&P 500 near 1370, which the market has been testing this week.
European shares were mixed with Britain down 0.05%, Germany up 0.8%, and France gaining 0.6%.
Japan's Nikkei 225 climbed 0.5% while China's Shanghai Composite Index climbed 1.2%. Chinese shares were boosted by speculation local governments would relax restrictions on the property market.
Mark Hanna, known in the financial community as "TraderMark," provides his insightful daily market coverage in this column, exclusive to Euro Pacific Capital.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Please feel free to repost with proper attribution and all links included.
Friday, February 24, 2012
By:
Mark Hanna - The Commerce Department said that new-home sales fell 0.9 percent last month to aseasonally adjusted annual rate of 321,000 homes. New homes are selling well below the 700,000-per-year rate that economists equate with healthy markets. The median sales price of a new home rose 0.3 percent in January to $217,100.
- The Thomson Reuters/University of Michigan final index of consumer sentiment for February rose to 75.3. Economists projected a reading of 73.
European shares were mixed with Britain down 0.05%, Germany up 0.8%, and France gaining 0.6%.
Japan's Nikkei 225 climbed 0.5% while China's Shanghai Composite Index climbed 1.2%. Chinese shares were boosted by speculation local governments would relax restrictions on the property market.
Mark Hanna, known in the financial community as "TraderMark," provides his insightful daily market coverage in this column, exclusive to Euro Pacific Capital.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Please feel free to repost with proper attribution and all links included.
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