|
          
|
[基础分析] 【市场综述07/23/12】Spain fear hits Wall Street, but stocks off session lows
本帖最后由 tfmegatron 于 2012-7-23 21:10 编辑
NEW YORK (Reuters) - U.S. stocks fell 1 percent on Monday as the euro zone's debt crisis appeared to be no closer to a resolution and worries grew that Spain would need a bailout.
Weak results from McDonald's Corp (MCD) added to the cautious tone on Wall Street, though equities were well off their session lows, a sign that investors were finding reasons to buy.
The Spanish region of Murcia looked set to follow Valencia in tapping a government program to keep its finances afloat. Local media reported half a dozen regions were ready to follow suit.
Valencia's move contributed to a 1 percent drop in the S&P 500 on Friday, and the benchmark index appeared on track to exceed those losses on Monday, falling as much as 1.8 percent before recovering some of those losses.
"So long as we're not getting catastrophic news, I think we'll continue to see the kind of upside momentum that helped us partially recover today," said Randy Frederick, director of trading for Charles Schwab in Austin, Texas. "Unless we get a sense that the euro zone will unravel, which we don't have, I think we can recover our recent losses pretty quickly."
The International Monetary Fund dismissed a weekend news report in German weekly Der Spiegel that it may refuse to continue supporting Greece as it prepares for talks with the new Greek government on its international bailout.
McDonald's Corp (MCD) was the latest earnings casualty among large multinational companies after posting a lower-than-expected profit, citing a slower global economy and a stronger dollar. McDonald's stock slid 2.4 percent to $89.37. It was the biggest drag on the Dow. Shares of rival hamburger chain Wendy's Co (WEN.O) fell 2.5 percent to $4.51.
With 23 percent of S&P 500 companies having reported results, 67.5 percent have posted earnings above expectations, although many analysts have cut their forecasts in recent weeks, allowing for easier beats. Over the past four quarters, 68 percent of companies beat estimates.
The high-profile earnings disappointments have taken a toll on third-quarter estimates. Third-quarter S&P 500 earnings growth is now expected to come in at 0.9 percent, down from 3.1 percent at the beginning of the month.
The Dow Jones industrial average (^DJI) lost 124.23 points, or 0.97 percent, to 12,698.34. The Standard & Poor's 500 Index (^GSPC) dropped 15.07 points, or 1.11 percent, to 1,347.59. The Nasdaq Composite Index (^IXIC) slid 39.88 points, or 1.36 percent, to 2,885.42.
Stocks appeared to stabilize as the S&P 500 approached its 50-day moving average of 1,332.98, a technical support level that could trigger more losses if convincingly broken.
Energy shares also slumped as fears of a global slowdown prompted investors to shun riskier assets, with U.S. crude down nearly 3 percent at $89.46 a barrel. Chevron Corp (CVX) dropped 1.4 percent to $107.67. The NYSE Arca oil index (^XOI) lost 2 percent. (O/R)
The CBOE Volatility Index (^VIX), Wall Street's fear gauge, jumped nearly 26 percent - its biggest percentage gain since November - when it touched a session high of 20.49. By late afternoon, the VIX had given up some gains to trade at 18.61. At that point, the VIX was still up 14.4 percent.
According to the VIX Open Interest Put-to-Call ratio, VIX options traders are holding only 50 puts for every 100 calls outstanding on the VIX. The last time this ratio hit this level was early August of 2011, just before a huge volatility spike that lasted nearly four months, he said.
The euro slid to a two-year low against the dollar and a near 12-year trough against the yen, pressured by fears that Spain may eventually need a full sovereign bailout. (USD/)
The yield on the Spanish 10-year bond was last at 7.496 percent, well over what analysts consider a sustainable level.
In merger news, Genesee & Wyoming Inc (GWR) agreed to buy RailAmerica Inc (RA) for $1.39 billion, driving RailAmerica's shares up 10 percent to $27.30. Genesee's stock was up 0.4 percent at $56.22.
Peet's Coffee & Tea Inc (PEET) soared 28.2 percent to $73.25 after striking a deal to be acquired by Joh. A. Benckiser for about $1 billion.
|
|
发表于 2012-7-23 16:11
| 
发表于 2012-7-23 16:14
| 
