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US stock markets down, European up

09 February 2010 08:30 (UTC +04:00)

Baku-APA-Economics. U.S. stocks lost ground at close ahead of the Treasury auction of $81 billion of bonds and notes this week. Commodities advanced and the dollar declined for the first time in four days. Toyota recall costs could be more than $2 billion estimated by the company, 123jump reported.
U.S. stocks traded sideways in the morning and searched for lower bottom at close. Commodities advanced and the dollar edged lower for the first in four days. Lingering worries over budget deficits at smaller nations in Europe kept the euro under pressure.

The broader indexes the S&P 500 and the Nasdaq declined at least 8.4% in the last four weeks.

U.S. Fed is expected to offer its plan to unwind several debt programs this week. CIT appoints ex-Merrill Lynch chief as its new leader.

U.S. Treasury is scheduled to sell $81 billion in notes and bonds this week matching its earlier record of weekly auction. Bond yields edged slightly higher ahead of auction.

Hasbro, Inc led gainers in the S&P 500 index with a rise of 14% after sales increased 12% and guided higher earnings in the year. CVS Caremark gained on the quarterly earnings increase. Loews Corp and CNA Financial Corp swing to the fourth quarter profit.

In London trading mining stocks led the gainers and insurance companies led the decliners. Xstrata reinstated its dividend and Randgold lifted dividend by 30%. Anglo American said it will take its full share of rights offering from Anglo Platinum Ltd.
Dow Jones Industrial Average decreased 103.84 or 1.1% to a close of 9,908.39, S&P 500 Index edged lower 9.45 or 0.9% to 1,056.74, and Nasdaq Composite Index decreased 15.07 or 0.7% to close at 2,126.05. Toronto TSX Composite Index decreased 107.82 or 1% to 11,115.30.
In London FTSE 100 Index closed higher 31.41 or 0.62% to 5,092.33, in Paris CAC 40 Index increased 43.51 or 1.22% to close at 3,607.27, in Frankfurt DAX index higher 50.51 or 0.93% to close at 5,484.85. In Zurich trading SMI increased 82.81 or 1.32% to close at 6,347.14.