News Headline Summary

US EQUITY WRAP

The S&P 500 closed at an all time record high as the third US GDP reading for Q4 was revised higher to 0.4% from 0.1%. Sentiment was also boosted as concerns about the European debt crisis eased following the reopening of Cypriot banks. Some had feared a bank run in the country although the reasonable capital controls have allayed any fears of a bank-run and the reopening was a complete non-event. In terms of individual stocks today, Biogen was one of the better performing stocks in the S&P 500 after late yesterday they announced FDA approval of their multiple sclerosis pill, rising over 5%. The worst performing stock in the S&P 500 was PVH following their weaker than expected earnings report after-market on Thursday. Finally, the DJIA finished up 0.34% at 14574.85, the S&P 500 finished up 0.39% at 1568.94 and the NASDAQ 100 finished up 0.31% at 2818.69.

28 Mar 2013 - 16:02 - Equities - Source: RANsquawk

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