Wednesday, April 22, 2009

U.S. STOSKS OFF IN LIGHT TRADE, OIL SLIPS

U.S. stocks slipped on Monday, pulled lower as energy stocks retreated on a decline in crude oil prices to below $50 a barrel and on investors' jitters ahead of the release of U.S. corporate earnings this week.Light volume exacerbated price moves across asset classes, with many financial centers closed in Europe and parts of Asia for the Easter holiday.
Large U.S. banks, including Goldman Sachs, JPMorgan and Citigroup, which have been battered by the financial crisis, report their latest quarterly results this week. General Electric also is set to report this week
The benchmark 10-year U.S. Treasury note rose 17/32 in price to yield 2.86 percent. The 2-year U.S. Treasury note gained 4/32 in price to yield 0.89 percent.The dollar fell against a basket of major currencies, with the U.S. Dollar Index off 1.02 percent at 84.664. Against the Japanese yen, the dollar fell 0.12 percent at 100.10/ from a previous session close of 100.22.Gold climbed in thin holiday trade as the dollar dropped and stock markets weakened. Spot gold prices rose $12.50 to $893.15 an ounce.The MSCI index of Asia-Pacific stocks outside Japan rose 0.73 percent to 268.80.Japan's benchmark Nikkei underperformed the rest of Asia to close down 0.4 percent at 8924.43.

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