News Headline Summary

US EQUITY WRAP

Whilst the S&P500 and DJIA finished higher on the day, the Nasdaq was weighed upon by the technology sector, particularly Apple which traded back below USD 550 and finished lower on the day by over 2% partly attributable to an article which reported that US patent office preliminary invalidates Apple’s ‘Steve Jobs Patent’ on the iPhone. The US jobs report pre-market supported strength in early trade, although a large portion of this upside was pared over the course of the session as a lack of progress on the fiscal cliff dented risk appetite. In individual equity news, an announcement by the Canadian industry ministry due after-market caused speculation of negative news for Nexen in regards to the CNOOC bid for the company. Once again today several firms declared an acceleration of dividend payments in advance of the expiration of dividend tax cuts at the end of the year as the Bush era tax cuts expire. Finally, the DJIA finished up 0.62% at 13155.13, the S&P 500 finished up 0.29% at 1418.08 and the NASDAQ 100 finished down 0.59% at 2640.54.

07 Dec 2012 - 22:10 - Equities - Source: RANsquawk

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