Thebullishtrends: U S stocks slumped today afternoon as market sources said factory orders and new home sales, rising crude and gold rates and expecting weak financial earnings for the first quarter. As per the latest reports orders for durable goods,and indicator for business spending slipped by 1.7% in last month. New home sales fell to a 13-year low in last month.After falling 150 points DOW Jones Industrial Average is trading at (12,390.22 -141.00 -1.1%), NASDAQ (2,310.17 -30.88 -1.32%) and S&P (1,338.17 -14.82 -1.10%).J.P Morgan Chase is a DOw's major financial arm fell by 3% and American Express Bank lost 3.5%. Volumes in New York Stock Exchange is almost nearby 646 billion. Clear Channel share price slid by 17% as the $ 19 billion purchase of radio broadcaster Clear Channel slipped because banks are reluctant to provide the fianance to the private equity funds looking to buy this company.
Citygroup share price slid by 4%. Ford motor announced today that it will sell luxury brands Jaguar and Land Rover to India's Tata Motors in a deal worth of $ 1.7 billion. Analysts said this move is the latest attempt by the cash-deficient automaker to fund its turnaround plan.
US light Crude oil for May delivery rose $ 3.53 to $ 104.75 per barrel. Gold delivery for April were also rose.
