News Headline Summary

US EQUITY WRAP

US equity markets finished in negative territory as ongoing concern regarding progress on budget negotiations between Republicans and Democrats in Washington overpowers optimism from the agreement in Europe on Greece, markets also failed to derive direction from better than expected US data in the form of Consumer Confidence, Durable Goods and Richmond Fed Manufacturing Index. Seagate slumped 4.9% after comments that the PC market was facing difficult economic conditions as consumers switch to tablets, while Monster Beverage was the outperformer rising 11% on the back of news that the regulatory clampdown on energy drinks have been overblown. Overall sentiment in the markets has been risk off as investors yet again hope for positive comments regarding the fiscal cliff and are disappointed once more. Finally, the DJIA finished down 0.69% at 12878.06, the S&P 500 finished down 0.52 % at 1398.95 and the Nasdaq 100 finished down 0.39% at 2641.42.

27 Nov 2012 - 15:04 - - Source: RANsquawk

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