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Home > Investments > Equities

Markets: Central bank uncertainty weighs on Wall Street

US equities closed fractionally lower, ending a two-session rally.

By Donia O'Loughlin | Published Jul 31, 2012 | comments

US equities indices dropped marginally overnight, ending a two-session rally, as investors waited to see whether the Federal Reserve and other central banks would take action to propel global growth.

Five of the 10 S&P 500 sectors closed in negative territory, with the healthcare and consumer discretionary indices leading the losses. Both subgroups declined 0.5 per cent and 0.4 per cent, respectively.

Defensive sectors led gains with the consumer staples index adding 0.5 per cent. The telecommunications and utilities indices also increased 0.7 per cent and 0.4 per cent.

Since the start of the second-quarter earnings season, 293 stocks have reported their results, accounting for 71 per cent of the total S&P 500 market capitalisation. Another 117 companies are reporting their second-quarter earnings this week, including Pfizer , Procter & Gamble and Coach.

The S&P 500 dipped 0.05 per cent to 1,385, the Dow Jones Industrial Average fell fractionally to 13,073 and the technology-heavy Nasdaq Composite Index dropped 0.4 per cent to 2,945.

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