US equities settled in minor positive to flat territory in a thinly traded session leading up to Christmas. The negative sentiment that had been evident in the session was reversed after comments from US House Speaker Boehner that he would keep working towards a compromise on the fiscal cliff. Earlier downside had been seen after Republicans pushed ahead with their own fiscal plan, complicating negotiations with the White House, Obama has vowed to veto the plan, a vote on the so-called “Plan B” will take place tonight at 1930EST/0030GMT. In terms of stocks 10/10 sectors in the S&P 500 settled in the green led by Financials that had seen gains of 1.18% thanks to NYSE Euronext and Bank of America. NYSE Euronext was the day's biggest gainer, rising 33.5% after ICE said it would buy the operator of the New York Stock Exchange for USD 8.2bln. The laggard of the index was Technology which was up 0.02%, being tempered by losses in Apple down almost 1% for the second consecutive day after losing a patent appeal to Samsung and having their price target downgraded. Finally, the DJIA finished up 0.45% at 13311.72, the S&P 500 finished up 0.55% at 1443.69 and the NASDAQ 100 finished up 0.1% at 2693.55.
Print 21:09, 20 Dec 2012 - US Equities - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: