The Wall Street closing bell saw equities finish with decent gains as US NASDAQ 100 outperformed its counterparts with gains of 1.39% benefiting from tech stocks which was also the best performing sector. Equities rebounded from yesterday's losses which saw the S&P 500 post its biggest drop in 2 weeks. The index came to just 3 points shy of the 1600 psychological level in today’s session. Sentiment was buoyed by the ECB’s decision to cut its key interest rates and much better than expected US economic data. Initial jobless data came in at 324k vs. Exp. 345k ahead of tomorrow's Non-farm payrolls. In individual stocks, Facebook shares trade over 5% after their earnings report in after-market yesterday showed a miss in EPS but a beat in revenue expectations. Seagate is the session’s best performing stock soaring over 7% following an upgrade at rating agency Fitch and a strong earnings report. Finally, the DJIA finished up 0.89% at 14831.58, the S&P 500 finished up 0.94% at 1597.59 and the NASDAQ 100 finished up 1.32 % at 2911.14.
02 May 2013 - 16:30 - - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: