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Wall Street dips in thin trading

U.S. stocks retreated in a quiet session, on the back of declines in global markets. Gold rose 1.6% while crude rallied 1%. The ASX SPI 200 is down 1 point to 5,381.

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U.S. stocks decline in a quiet session with the S&P 500 falling 0.4% to 2,082.15.

The Dow Jones was down 0.3% to 17,992.53, while the tech-heavy Nasdaq fell 0.5% to 4,781.31.

The negative tone was set by declines in Europe and Asia, following the Greek parliament’s failure to elect a new president. A snap election in January could see anti-austerity parties gain power, adding to concerns about Greece’s financial problems.

In the latest economic data, consumer confidence rose slightly less than expected in December, while U.S. single-family home price appreciation slowed less than forecast in October.


Commodities

Oil for February delivery advanced 1% to settle at US$54.12 a barrel on the New York Mercantile Exchange.

Gold for February delivery rose 1.6% to finish at US$1,200.40 an ounce, after touching a high on the session of US$1,210.90 an ounce.

Silver for March delivery increased 3.2% to settle at US$16.28 an ounce.

Platinum for April delivery rose 1.4% to settle at US$1,219.30 an ounce while palladium for March delivery declined 1% to settle at US$804.20 an ounce.


Wall Street round-up


Civeo (NYSE:CVEO) plunged 52% to US$4.32 after the provider of oilfield accommodation services suspended its dividend, cut spending and anticipated first-quarter and full-year revenue below analyst expectations, in response to dropping demand from the collapse in commodity prices.

NeuroDerm (NASDAQ:NDRM) almost tripled to US$18.08 after the Israeli biotech company announced promising results from a trial of a treatment for Parkinson's disease.



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