News Headline Summary

US EQUITY WRAP

US equities have climbed to five year highs with the Dow breaking above 14,000 for the first time since 2007. Non Farm Payrolls came in slightly lower than expected but revisions for the previous month came in much higher. Equities were also supported by US Unemployment Rate coming in higher than expected as the Fed said at Wednesday’s rate decision they would continue the current programme of asset purchases until there was a significant improvement in the labour markets with ISM Manufacturing and University of Michigan Confidence also contributing. Earnings continued to be the main motivator behind individual stocks price action, of the 252 companies in the S&P 500 that have reported so far, 69% have exceeded expectations, this is a higher proportion than over the past four quarters and above average since 1994. GameStop are the best performing company in the S&P 500 up 6.51% after reporting positively pre-market today. In terms of sectors 10/10 finished in the green today led by Telecommunications which was up 1.94%, with Verizon seeing gains of 2.29% thanks to a positive broker move pre-market and news they would introduce a new pre-paid plan for 3G smartphones. Also performing well was Dell up 2.79% as sources say the company could be near to be taken private, however they did come off highs of the day after market talk of a low valuation. Finally, the DJIA finished up 1.07% at 14008.72 the S&P 500 finished up 1.00% at 1513.08 and the NASDAQ 100 finished up 1.18% at 3179.10.

01 Feb 2013 - 21:01 - Equities Data - Source: RANsquawk

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