US EQUITY WRAP

US STOCKS

Despite a sell off in equity markets post weaker than expected US GDP print, stocks have staged a remarkable come back, buoyed by better than expected Chicago PMI, Michigan and NAPM reading. Also, in spite of lack of fresh news flow and low volumes, equities managed to break out of the range-bound trade and move into positive territory led by basic materials and consumer goods sectors. The NASDAQ 100 has outperformed its peers on reports that Research in Motion (+3.29%) is to launch its own version of Apple’s iPad, dubbed BlackPad. Finally, at the closing bell DJIA closed down 0.01% at 10465.94, the S&P 500 closed up 0.01% at 1101.60 and NASDAQ 100 closed up 0.20% at 1864.00.