News Headline Summary

US EQUITY WRAP

US equities fluctuated between gains and losses but managed to finish the session in positive territory, as the S&P 500 finished at an a closing record high. The index finished up for the sixth consecutive month, the longest streak since September 2009. A slew of economic data saw equities earlier in the session come under pressure as Chicago PMI missed expectations coming in under 50, the lowest reading since 2009. A better than expected US Consumer Confidence reading which was at a 5 month high saw a muted reaction as the conference board clarified that it was too soon to say if confidence was on the mend. Equities rebounded to trade around their session highs attributed to reports that Apple’s bond book tops USD 50bln, the biggest corporate issuance of all time; Apple shares rallied over 3%. Best Buy the world’s largest consumer- electronics retailer finished the session’s as the best performing stock rallying over 10% to year highs after the Co. said it is to sell its 50% stake in Europe. Finally, the DJIA finished up 0.11% at 14834.73, the S&P 500 finished up 0.13% at a record intra-day level at 1595.61 and the NASDAQ 100 finished up 0.12% at 14836.342

01 May 2013 - 06:35 - Equities Data - Source: RANsquawk

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