US equity market finished lower for the day following flows away from riskier assets as tension in the middle east caused renewed risk aversion after Israeli airforce hit multiple Gaza targets, sparking violence in the area. With today’s strong sell-side bias the DJIA lost 200 points at its worst level, although finished just off its session low and all three major bourses finished lower by over a 1%. In terms of individual stocks AMD were the worst performing in the S&P following a denial of source comments made yesterday that they were exploring options via JPM, and Abercrombie & Fitch the best performing following a well received earnings report pre-market. In an interesting deal for US markets the FTC were reported to back the Hertz/Dollar Thrifty deal with conditions which caused instant strength in respective share prices. Finally the DJIA finished down 1.45% at 12570.95 the S&P 500 finished down 1.39% at 1355.49 and the NASDAQ 100 finished down 1.17% at 2531.87.
14 Nov 2012 - 16:12 - Equities - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: