US Stocks News Alerts: XOM, NEM, WFC, Unilever)

U.S. stocks fell, with the Standard & Poor’s 500 Index erasing some of yesterday’s advance, as a report showing weaker-than-estimated personal spending boosted concerns about the strength of the economic recovery.

The S&P 500 fell 0.22%to 1,100.59 as of 10.37 a.m. in New York after the index jumped 3.3 yesterday. The Dow Jones Industrial Average declined 27.84 points, or 0.24%, to 10,234.12. Four stocks declined for each that rose on U.S. exchanges.

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Exxon Mobil Corporation (NYSE:XOM) is trading higher by 0.13% to $61.55 with heavy volume of 4.53 million shares within first hour of trading as crude oil prices moved above $75 a barrel for the first time in 2 weeks. Crude oil continues to rebound from its lows last week as the euro had strengthened and on speculation the global economic growth will continue helping drive fuel demand.

Newmont Mining Corporation (NYSE:NEM) slid 1% to $54.36 as Gold prices were moving lower on the London Metals Exchange. Gold is poised for a weekly gain after the Dollar index fell from its high last week and continued speculation that European risks will spur safe haven demand.

Wells Fargo & Company (NYSE:WFC) fell 0.37% to $29.30 despite Sterne Agee upgraded the stock to “Buy” from “Neutral”. The analysts at the firm set the price target for Wells Fargo at $37 a share.

Unilever N.V. (ADR) (NYSE:UN) is among the few stock gainer and rose 0.60% to $27.63 after the global Consumer goods Company maker of SlimFast products and Dove soap, will likely see some upside after UBS upgraded the stock to “Buy” from “Neutral”.

Unilever N.V. (Unilever) is a supplier of consumer goods. It focuses on everyday consumer needs for nutrition, hygiene and personal care. Unilever’s portfolio includes brands, as Knorr, Lipton, Hellmann’s, Magnum, Omo, Dove, Lux and Axe/Lynx.

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