US stocks fell on fifth straight session

Thebullishtrends: Interestingly US Stocks fell on fifth straight session on Tuesday, markets have not bothered about the US Fed rate cut, but stocks recovered from the lower levels. There were selling pressure in the opening session due to an holiday on Monday,those orders placed regardless US Fed rate cut.

Volumes were heavy in Newyork Stock Exchange it was topped by 2.5 billion. Crude Oil futures rose earlier losses but still closed below $ 90 per barrel. But Gold futures gained $ 8.60 and end at $890.30 an ounce.

Johnson and Johnson a drug manufacturer reported a 9.5%rise in its fourth quarter profits but the stock price fell 1.5%(65.27). Ford Motor, Merril Lynch and Bank of America share prices closed with gains.

The response of the US markets absolutey nill post US Fed rate cut. Dow lost 128(-1.06%)points and ended at 11,971.19 points, NASDAQ fell 47.75(-2.04%) closed at 2,292.27 points and S&P lost 14.69(-1.11%) closed at 1,310.50 points.