1:20 PM New York – Stocks in New York traded sharply lower and crude oil extended losses after whole price index declined for the fourth month in a row.
Market indexes in New York reversed gains of yesterday and stocks extended losses after oil dropped and a decline in wholesale prices.
Wholesale price index fell for the fourth month in a row after food prices eased and margin at retailers and wholesaler also contracted.
Crude oil futures declined 3.7% on the worries that the supply is rising faster than the demand and inventories are growing across the nation at pump stations and storage facilities.
A separate, private report suggested that the consumer confidence index tracked by the University of Michigan declined to 91.2 in March from 95.4 in February.
The Producer Price Index declined 0.5% in February on a seasonally adjusted basis followed by 0.8% decrease in January and 02% in December, the Department of Labor announced.
On Wall Street trading, Tollbooth Strategy Index slipped 0.9% or 95 to 10,511.76.
S&P 500 index fell 17.07 or 0.8% to 2,048.89 and the Nasdaq Composite Index slid 33.18 or 0.7% to 4,860.34.
Crude oil declined $1.01 a barrel to $56.07 and gold gained $1.40 to $1,153.30 an ounce.
Ulta Salon, Cosmetics & Fragrance, Inc
) climbed 3.6% or $5.28 to $150.16 after the beauty products retailer reported net sales in the fourth-quarter ending in January surged 20.7% to $1.05 billion form a year ago period.
Comparable store sales in the quarter soared 11.1%.
Net income in the quarter advanced 23.5% to $87.3 million or $1.35 per diluted share compared to $70.7 million or $1.09 from the same quarter last year.
Vail Resorts, Inc
) jumped 2.6% or $2.41 to $95.68 after the ski resort operator stated total net revenues in the second-quarter ending in January climbed 17.1% to $530.2 million form a year ago period.
Net income in the quarter surged 95.3% to $115.8 million or $3.10 per diluted share compared to $59.2 million or $1.60 from the same quarter last year.
In London trading, FTSE 100 index fell 0.2% or 13.85 to 6,747.22 and in Frankfurt the DAX index decreased 0.3% or 36.63 to 11,762.76.
In Paris, CAC 40 index slid 0.1% or 5.77 to 4,981.56.
slid 0.05% to €73.56 after the Germany-based e-commerce trader said total group revenues in the year ending in December soared 13.5% to €2.58 billion from €2.27 billion a year ago period.
Net profit in the year climbed 20.2% from a year ago to €76.2 million compared to €63.4 million and diluted earnings per share jumped to €3.63 from €3.02.
J D Wetherspoon Plc
declined 3.9% to 779.50 pence after the U.K.-based pubs and bars operator said revenues in the first-half ending on January 25 climbed 9% to £744.4 million from £683.2 million a year ago period.
Net profit in the period jumped 6.9% from a year ago to £27.8 million compared to £26 million and diluted earnings per share increased to 22.6 pence from 20.7 pence.
Stocks in Tokyo closed higher and the Nikkei jumped to a high not seen since 2000. Industrial production in January increased 3.7%. Fanuc soared 13% after the industrial robot maker took steps to increase communication with shareholders.
Stocks in Tokyo extended gains for the third day in a row and the Nikkei rose above 19,000 for the first time since April 2000.
Seasonally adjusted industrial output in January jumped 3.7% from 2.8% decline in the same month a year ago, the Ministry of Economy, Trade and Industry reported.
The Nikkei 225 Stock Average climbed 263.14 or 1.4% to 19,254.25 and the broader Topix index jumped 13.70 to 1,560.33.
For the week, Nikkei 225 increased 1.5%.