News Headline Summary

US EQUITY WRAP; S&P 500 within touching distance of 50DMA but fails to test today

Light news flow and no tier 1 data from the US meant that there was little to support markets in later trade and equities continued to trend lower throughout the session. The European session saw positive sentiment after good Eurozone and UK data, however as the US session began the USD index broke through its 200DMA and this triggered markets to trend lower, which was also ahead of the E-mini contract roll from June to September. S&P found support just above its 50DMA, while the DJIA briefly broke the 15000 to the down side. Although finished above here dispite a small sell side imbalance. The best performing stock today was Spectra Energy (10.50%) which was upgraded to overweight from equal weight at Morgan Stanley. Finally, the DJIA finished down 0.84% at 14995.23, the S&P 500 finished down 0.72% at 1614.38 and the NASDAQ 100 finished down 1.14% at 2926.14.

12 Jun 2013 - 22:12 - - Source: Newswires

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