Late Market Roundup

The Treasury has announced that it will sell $108 billion in notes next week, down from $118 billion during April. The sale will start from June 22 with $40 billion in 2-year notes and will involve $38B in 5-year notes to be sold on June 23. The last day of the sale will involve $30 billion in 7-year notes. The Canadian stocks improved today, driven by a rise in the price for gold. The US economic indicators related to job losses and inflation helped move gold price. The S&P/TSX Composite Index soared 0.3% and shares of Eldorado Gold EGO gained 4.85%. The macroeconomic reports have created a doubt on the pace of the economic recovery and the demand for oil. The weak reports and falling stock market put pressure on the crude-oil futures, resulting in crude for July delivery dipping 1.2% to $76.74 a barrel. Fitch Ratings has upgraded issuer default rating of Saks Inc SKS from “B-“ to “B” as the company’s comparable store sales have been positive since December 2009. Fitch also attributed the upgrade to an increase in the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) and better-than-expected improvement in the credit metrics. Read more from Benzinga's Markets.