US STOCKS-Wall St little changed as Ukraine, China concerns brushed off

miércoles 12 de marzo de 2014 17:11 GYT
 

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By Rodrigo Campos

NEW YORK, March 12 (Reuters) - U.S. stocks finished little changed on Wednesday, with the Nasdaq up for the first session in five, as investors grappled with the evolving situation in Ukraine but shrugged off concern over weakness in China's economy.

The EU agreed a framework for its first sanctions on Russia since the Cold War, a stronger response to the Ukraine crisis than many had expected and a mark of solidarity with Washington in the effort to make Moscow pay for seizing Crimea.

London copper prices, a proxy for economic health due to the metal's broad industrial use, hit their lowest since July 2010 on concerns about credit problems in China, but later rebounded. Copper has fallen 7.7 percent over four sessions. Spot gold hit a six-month high on its safe-haven appeal.

"The situation in Ukraine and a slowing China are going to matter, but they haven't mattered yet. Commodity prices are falling and that is tied to demand," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.   Continuación...