US equities settled in minor positive to flat territory, grinding gradually higher throughout the session. The S&P 500 is set to record its best month since October 2011 and its best January since 1997. In terms of macro data markets failed to derive any direction from weaker than expected US Consumer Confidence which erased all of 2012 gains, shrugging off the number as payroll tax increases were seen as the primary factor behind the reading. In terms of sectors 9/10 settled in the green led by Oil & Gas which saw gains of 1.64% thanks to Valero who rose 12.91% on the back of positive earnings and were the best performing company in the S&P. Earnings were the main driver in stocks today with DR Horton and Pfizer also experiencing significant gains on the back of earnings. The Nasdaq underperformed its peers, settling flat, weighed upon Seagate Technologies who were down 8.91% after earnings where they lowered their Q3 guidance. Looking ahead Amazon are due to report after-market, their shares have seen weakness today, down 2.6% ahead of this release; also reporting are Ace ltd and Broadcom. Finally, the DJIA finished up 0.52% at 13954.57 the S&P 500 finished up 0.51% at 1507.85 and the NASDAQ 100 finished down 0.02% at 3153.066.
Print 21:03, 29 Jan 2013 - US Equities - Source: RANsquawk