Saturday, 13 October 2012

Stocks retreat on earnings concerns, euro steady

Stocks slipped on Friday as investors fretted over what is expected to be a weak corporate earnings season, while gains in the euro were checked by uncertainty over whether and when Spain would request help with its finances.
Investors failed to be cheered even by data showing Americans were the most upbeat they have been in five years, as well as record quarterly profits at JPMorgan Chase (JPM.N) and Wells Fargo (WFC.N). As a result, U.S. stocks posted their worst weekly decline since June.

Brent falls $1/bbl, spread to U.S. crude narrows

Brent crude prices fell more than $1 a barrel on Friday, outpacing losses on U.S. crude and deflating the spread between the two contracts after it hit the widest level in a year this week.
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