News Headline Summary

US EQUITY WRAP

US equities finished off their worst levels after paring losses seen earlier in the session, weighed on by negative sentiment from Asia following the latest IMF & OECD growth forecasts. The IMF cut its forecast for China’s growth forecast to 7.75% from 8%. Elsewhere, OECD cut its 2013 World GDP growth forecast to 3.1% from 3.4%. Price action lacked direction with a lack of Tier-1 data. Finally, the DJIA finished down 0.69% at 15302.80, the S&P 500 finished down 0.70% at 1648.36 and the NASDAQ 100 finished down 0.57% at 2994.82.

29 May 2013 - 22:12 - - Source: RANsquawk

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