US equities settled in positive territory with markets retracing earlier losses seen after lower than expected US Existing Home Sales, sentiment was boosted by news that the House would vote on a bill extending the debt ceiling by 3 months tomorrow. In terms of stocks Seagate Technologies were the best performing in the S&P 500 up 7.09% after a positive broker move from Brean Capital. Western Digital also benefited from a Brean Capital broker move and were up 5.59%. In terms of sectors Basic Materials was the best performing seeing gains of 1.11% led by Freeport-McMoRan who were up 4.61% following positive earnings pre-market. A late rally pushed equity futures up to 5 year highs following positive after market earnings for bellwether companies Google and IBM. Several other companies also reported beats including Advanced Micro Devices, Norfolk Southern, CA, CSX and Cree. Finally, the DJIA finished up 0.46% at 137412.21 the S&P 500 finished up 0.44% at 1492.56 and the NASDAQ 100 finished up 0.27% at 3143.18.
22 Jan 2013 - 15:47 - - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: