Home Depot and Sears Holdings Pull Markets Lower
The major indices declined this morning on disappointing forecasts
from retailers Home Depot and Sears Holdings. Traders are also
cautious ahead of Fed Chairman Bernanke speech set for this
afternoon.
Crude oil futures for August delivery rose 0.4%
to $72.46 per barrel. Gold
futures for August delivery touched $667.00 an ounce, which marks
a 1-month high.
Around Asia, Shanghai’s Composite index rose 0.8% to 3,853.02,
Hong Kong’s Hang Seng index added 0.3% to 22,885.84, and Tokyo’s
Nikkei index fell fractionally to 18,252.67.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com