Stock Market Today – Newmont Mining (NEM) BHP Billiton (BHP) Vale (VALE) and Credit Suisse (CS) Report

vale and bhp logos

(Best Syndication News) Stock markets in Asia are closing lower Thursday after a down-day on Wall Street Wednesday (see stock charts below). The FTSE 100 (England), the DAX (Germany), and the CAC-40 (France) indexes in Europe are all opening lower.

Some analysts believe the downturn in the United States was caused by statements made by Federal Reserve Chairman Ben Bernanke before the House Committee on Financial Services Wednesday. There were no hints for another round of quantitative easing (QE3).

The Fed Chair said that employment picked up quicker than expected, but the unemployment rate is still above “normal.” The Federal Reserve Beige Book, which was also released today, said that most Federal Reserve districts reported a slight increase in hiring and six districts reported an increase in manufacturing hiring. There was increased capital spending in seven of the 12 districts.

But the positive economic news would not instill the confidence that quantitative easing would have. Gold prices also dropped as inflation fears began to dry up.

Large-Cap Stocks

Only 39 of the 160 stocks in our large-cap index were higher on Wednesday (see the large-cap stock chart below). Falling gold prices hurt some of the mining companies. Newmont Mining Corporation (NYSE:NEM) declined more than any other stock in the index.

NEM fell more than four percent on volume 80 percent above average. The stock gained one penny to $59.43 in the after-hours.

Sony Corporation (ADR) (NYSE:SNE) slipped nearly four percent. Stiff competition from Apple Inc. (NASDAQ:AAPL) has weighed heavily on the stock. The yen has also been lower over the last few months.

BHP Billiton Limited (ADR) (NYSE:BHP) fell more than one percent. The company is involved in several sectors, including materials and oil. The S&P energy sector fell 1.03 percent while the materials sector fell 1.74 percent (see the sector chart below).

Without a dividend payment, the unadjusted close would have been down more than three percent (see the large-cap stock chart below). In the after-hours BHP fell another 42 cents to $76.40. There was a bid of $76.30 on 800 shares and an ask of $76.80 on 100 shares.

Another materials company, Vale (ADR) (NYSE:VALE), fell nearly three percent. The volume of trading was only 11 percent above average.

In the after-hours VALE fell 14 cents to $25.28. COMEX gold fell $77 in one day as inflation fears waned.

ArcelorMittal (ADR) (NYSE:MT) slipped more than 2.50 percent in Wednesday’s session. The volume was average, but traders were concerned about sliding metal prices. Hot rolled coil steel is down nearly six percent over the last 30 business days.

Credit Suisse Group AG (ADR) (NYSE:CS) slid more than 2.5 percent. Yesterday the European Central Bank (ECB) provided liquidity to eurozone banks without providing the names of those banks.

CS is a Swiss based bank and Switzerland is not a eurozone member. The Swiss franc (CHF) declined against all major currencies with the exception of the Japanese yen (JPY) Wednesday.

By: Dan Wilson

World Market Chart:

Wednesday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
2/29/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
12,952.07 Dow Jones Industrial -53.05 -0.41% 0.10% 2.60% 12.84%
1,365.68 S&P 500 -6.50 -0.47% 0.59% 3.89% 13.46%
2,966.89 NASDAQ Composite -19.87 -0.67% 1.15% 6.40% 13.23%
12,644.01 S&P TSX Canada -96.46 -0.76% -0.45% 2.13% 6.15%
65,811.73 Brazil Bovespa Stock -147.05 -0.22% -0.43% 6.27% 20.53%
37,816.69 IPC MXX - Mexico -204.73 -0.54% -0.25% 0.36% 9.34%
2,648.22 MerVal Buenos Aires -33.87 -1.26% -6.71% -8.12% 1.99%
810.94 Russell 2000 Sm-Cap -12.86 -1.56% -0.68% 3.65% 16.04%
810.36 Russell 3000 98% Mkt -4.61 -0.57% 0.45% 4.10% 14.11%
EUROPE
5,871.51 FTSE 100 England -56.40 -0.95% -0.76% 2.27% 8.66%
3,452.45 CAC 40 France -1.54 -0.04% 0.15% 3.71% 8.33%
6,856.08 DAX Germany -31.55 -0.46% 0.18% 6.85% 15.91%
743.59 Athens Greece Comp. 16.45 2.26% -1.11% 7.81% -3.72%
852.45 IGBM Madrid Spain -5.60 -0.65% -2.11% -1.10% -5.35%
6,109.93 SSMI - Swiss Market -15.16 -0.25% -1.33% -1.36% 6.94%
17,350.30 FTSE Italia All (Italy) -3.71 -0.02% -1.33% 4.93% 2.81%
ASIA & PACIFIC
2,428.04 Shanghai China -24.25 -0.99% 1.01% 5.73% -0.46%
9,723.24 Nikkei 225 Japan 0.72 0.01% 1.77% 12.54% 10.20%
21,680.08 Hang Seng Hong Kong 111.35 0.52% 0.61% 8.71% 15.58%
8,121.44 TSEC Taiwan Exchange 162.10 2.04% 1.50% 12.27% 9.33%
4,298.50 S&P ASX 200 Australia 35.80 0.84% 0.13% 1.99% 1.27%
17,752.68 BSE Sensex Bombay 21.56 0.12% -2.16% 6.66% 5.15%
5,385.20 CNX NIFTY NSE India 9.70 0.18% -2.18% 7.31% 6.05%
2,030.25 Korea Com KOSPI 26.56 1.33% 0.08% 6.02% 11.36%
2994.06 STI Singapore 24.33 0.82% -0.05% 6.50% 9.51%

Large-Cap Stocks:


Wednesday Large Cap Index One Day One Day Five Day 30-Day 100-Day
2/29/2012 Name Change % Change % Change % Change % Change
59.42 Newmont Mining Corp -2.58 -4.16% -6.87% -1.54% -7.24% 1
21.39 Sony Corporation (ADR) -0.87 -3.91% 0.94% 24.94% 11.87% 2
64.81 BHP Billiton plc (ADR) -2.23 -3.33% -0.99% -2.07% 12.09% 3
25.31 Hewlett-Packard Co -0.87 -3.32% -6.43% -6.26% 1.04% 4
140.33 Novo Nordisk A/S -4.25 -2.94% -1.78% 16.26% 44.97% 5
25.14 Vale (ADR) -0.76 -2.93% -1.57% 2.74% 5.32% 6
36.59 Halliburton Company -1.09 -2.89% -4.24% 4.57% 6.21% 7
21.1 ArcelorMittal (ADR) -0.57 -2.63% -0.99% 3.38% 18.74% 8
26.82 Credit Suisse Group -0.71 -2.58% -1.79% 11.38% 0.83% 9
76.82 BHP Billiton Limited... -1.99 -2.53% -1.07% -1.92% 7.01% 10
               
               
47.57 The Home Depot, Inc. 0.34 0.72% 1.32% 5.99% 42.51% 150
29.4 U.S. Bancorp 0.23 0.79% 1.41% 1.10% 22.50% 151
81.52 Toronto-Dominion Ba 0.71 0.88% 2.96% 6.69% 14.87% 152
30.29 Carnival Corporation 0.28 0.93% 0.43% -0.85% -4.84% 153
12.38 Ford Motor Company 0.13 1.06% -0.16% 0.32% 12.65% 154
60.75 China Telecom Corp... 0.65 1.08% 1.52% 16.83% -3.00% 155
56.69 Target Corporation 0.68 1.21% 4.02% 13.68% 9.21% 156
542.44 Apple Inc. 7.03 1.31% 5.04% 26.41% 43.74% 157
69.86 The Coca-Cola Co 1.01 1.47% 0.98% 3.36% 6.84% 158
28.38 Lowe's Companies, Inc. 0.67 2.42% 4.88% 3.35% 40.22% 159
58.19 Ecopetrol S.A. (ADR) 1.52 2.68% 4.30% 14.95% 44.03% 160

Sector Charts:

Wednesday S&P Sector Name (10) One-Day One-Week 30-Day 100-Day
2/29/2012 % Change % Change % Change % Change
557.36 Energy -1.03% -0.60% 4.33% 20.18%
233.84 Materials -1.74% -1.33% 0.66% 17.48%
319.78 Industrials -0.54% -0.60% 2.73% 21.87%
341.38 Consumer Discretionary -0.22% 1.20% 4.93% 18.85%
341.2 Consumer Staples 0.26% 1.23% 2.55% 10.75%
417.92 Health Care -0.51% 0.51% 0.74% 13.17%
198.35 Financials -0.46% 1.07% 5.62% 20.11%
472.79 Info Tech -0.50% 1.49% 9.81% 20.31%
129.35 Telecom Svc -0.11% 0.86% 0.33% 7.10%
176.27 Utilities -0.11% -0.40% -0.61% 4.44%
Wednesday Dow Sectors (10) One-Day One-Week 30-Day 100-Day
2/29/2012 % Change % Change % Change % Change
3134.8 Basic Materials -1.88% -1.41% 1.42% 18.79%
3532.63 Consumer Goods 0.03% 0.89% 3.97% 12.50%
3830.24 Consumer Services -0.30% 1.22% 4.80% 18.42%
3064.17 Financials -0.51% 0.90% 5.33% 19.93%
3547.14 Health Care -0.64% 0.57% 1.68% 14.64%
3347.25 Industrials -0.63% -0.52% 3.40% 22.63%
6126.78 Oil & Gas -1.16% -0.79% 4.73% 21.57%
7184.14 Technology -0.57% 1.26% 9.80% 20.54%
1106.12 Telecommunications -0.26% 0.56% 1.12% 8.09%
1832.79 Utilities -0.06% -0.48% -0.42% 5.28%
Wednesday Nine Sectors One-Day One-Week 30-Day 100-Day
2/29/2012 % Change % Change % Change % Change
1,517.67 Basic Materials Sector -1.81% -0.84% 4.35% 16.41%
1,526.95 Conglomerates Sector -0.53% -0.92% 2.87% 21.71%
1,664.81 Consumer Goods Sector -0.57% 0.89% 8.61% 20.92%
1,414.86 Financial Sector -0.39% 0.50% 3.97% 18.86%
1,536.42 Healthcare Sector -0.80% 1.47% 5.45% 16.85%
1,620.30 Industrial Goods Sector -0.77% -0.63% 4.77% 26.74%
1,726.25 Services Sector -0.57% 0.57% 3.72% 18.64%
1,467.20 Technology Sector -1.00% 0.39% 7.25% 13.34%
1,240.66 Utilities Sector 0.40% 0.45% 3.39% 9.58%

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