US equities closed in negative territory, although off their worst levels. Much was made on continued concerns over the lack of progress on solutions to contain Europe’s debt crisis, this weighed on equity markets despite some positive US housing data. As we approach the start of US corporate earning season, investors remain fearful of the impact the decline in European growth could have on profits in US companies. Constellation Brands were one of the few bright spots as speculators predict the co. could benefit from a possible deal between Anheuser-Busch InBev and Modelo.
Finally the S&P 500 closed down 1.60% at 1313.72, DJIA finished down 1.09% at 12502.66 and the Nasdaq 100 closed down 2.01% at 2533.54.
Print 20:07, 25 Jun 2012 - US Equities - Source: RANsquawk
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