Equities
Asian markets took a breather from the recent rally, pulling back from 4-month highs. The Nikkei declined .4% to 9124, the ASX 200 eased .2% to 4395, and the Hang Seng slipped .3% to 20602. The Shanghai Composite slumped .9% to 2060, while the Kospi managed a slight gain of .1% to 2005.
Selling pressure grew in Europe, as the market awaits Spain’s request for a bailout. The CAC40 tumbled 1.2% to 3513, the DAX sank .8% to 7348, and the FTSE shed .4% to 5868.
US stocks overcame initial weakness to close little changed. The Dow inched up 12 points to 13565, the Nasdaq eased 1 point to 3178, and the S&P 500 edged down 2 points to 1459.
Homebuilders skidded, despite news that the homebuilder sentiment index hit its highest level in 6 years. Beazer sank 3.6%, and Pulte fell 2.3%.
Apple shares ticked up .3% to 701.91, crossing the $700 mark for the first time, after announcing record sales for the iPhone 5.
Currencies
The Dollar settled moderately higher against world currencies. The Euro slumped .6% to 1.3037, the Australian Dollar declined .3% to 1.0440, and the Yen eased .1% to 78.85. The Pound and Canadian Dollar settled fractionally lower, while the Swiss Franc dipped .2% to .9294.
Economic Outlook
The NAHB housing market index rose to 40 from 37, hitting a 6-year high, and exceeding forecasts. The US current account deficit decreased to $117 billion from $134 billion in the second quarter.
Asian markets took a breather from the recent rally, pulling back from 4-month highs. The Nikkei declined .4% to 9124, the ASX 200 eased .2% to 4395, and the Hang Seng slipped .3% to 20602. The Shanghai Composite slumped .9% to 2060, while the Kospi managed a slight gain of .1% to 2005.
Selling pressure grew in Europe, as the market awaits Spain’s request for a bailout. The CAC40 tumbled 1.2% to 3513, the DAX sank .8% to 7348, and the FTSE shed .4% to 5868.
US stocks overcame initial weakness to close little changed. The Dow inched up 12 points to 13565, the Nasdaq eased 1 point to 3178, and the S&P 500 edged down 2 points to 1459.
Homebuilders skidded, despite news that the homebuilder sentiment index hit its highest level in 6 years. Beazer sank 3.6%, and Pulte fell 2.3%.
Apple shares ticked up .3% to 701.91, crossing the $700 mark for the first time, after announcing record sales for the iPhone 5.
Currencies
The Dollar settled moderately higher against world currencies. The Euro slumped .6% to 1.3037, the Australian Dollar declined .3% to 1.0440, and the Yen eased .1% to 78.85. The Pound and Canadian Dollar settled fractionally lower, while the Swiss Franc dipped .2% to .9294.
Economic Outlook
The NAHB housing market index rose to 40 from 37, hitting a 6-year high, and exceeding forecasts. The US current account deficit decreased to $117 billion from $134 billion in the second quarter.