News Headline Summary

US EQUITY WRAP

It was a very quiet trading session as markets ended the week with very little news flow before the holiday weekend. Losses into the open were largely pared toward the close. US equities did not manage to reverse the losses after Fed minutes and Bernanke comments on Wednesday and therefore posted the first negative week in over a month. The best performing sector today was consumer goods supported by Proctor and Gamble who announced aftermarket yesterday that Alan Lafley returned to the company as CEO. They traded 3% higher premarket and held on to these gains throughout the session. Gamestop suffered the biggest losses on the day due to uncertainty about how Microsoft’s new Xbox will sell games. Abercrombie and Fitch also lagged in response to their pre-market earnings miss. Finally, the DJIA finished up 0.06% at 15303.10, the S&P 500 finished down 0.26% at 1646.30 and the NASDAQ 100 finished down 0.01% at 2991.02.

24 May 2013 - 14:08 - - Source: RANsquawk

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