#1 Euro Weakens as U.S. Stocks Fall While Treasuries Advance05-07-2012, 11:04 AM
Michael P. Regan and Rita Nazareth - May 7, 2012 9:38 AM CT
The euro slid for a sixth day versus the dollar and U.S. stocks fell, while Treasuries rose, after French Socialist Francois Hollande was elected president and Greek voters picked anti-bailout parties. Commodity shares led U.S. equities lower as the stronger dollar weighed on materials.
The euro lost 0.3 percent to $1.3039 as of 10:36 a.m. in New York. The Standard & Poor’s 500 Index fell 0.4 percent. Ten- year Treasury yields fell two basis point to 1.86 percent after losing six points earlier. Ten-year French yields slipped three points to 2.80 percent and the CAC-40 Index of stocks rallied 0.7 percent. The Stoxx Europe 600 Index erased a 0.8 percent drop to climb 0.3 percent, even as Greece’s ASE Index (ASE) plunged as much as 8.3 percent in its worst drop since 2008. The S&P GSCI Index of commodities fell for a fourth day.
Read More>http://www.bloomberg.com/news/2012-0...tion-jobs.htmlThe difference between pigs and people is that when they tell you you're cured it isn't a good thing.
05-07-2012, 01:07 PM
- Join Date
- May 2008
- Northern Virginia
Market's down only 12 right now, and has been slowly rising all day."Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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