News Headline Summary

US EQUITY WRAP

US equities closed in negative territory with heavy selling observed heading into the close. Equities opened lower, echoing European equity markets with month end flows observed from equities and into treasuries. However, both Chicago PMI and Univ. of Michigan manufacturing came in better than expected and lifted equity markets in the middle of the day. However, heading into the cash close on Wall Street equities continued to sell-off with month end rebalancing observed during the last trading day of the month. A very large (USD 2.65bln) sell-side imbalance was also seen heading into the close which also weighed on equities. Finally, the DJIA finished down 1.36%% at 15115.57, the S&P 500 finished down 1.43% at 1630.74 and the NASDAQ 100 finished down 1.00% at 2981.76. For the month, the Dow Jones closed up 1.86%, the S&P 500 closed up 2.08% and the NASDAQ 100 closed up 3.27%.

31 May 2013 - 15:10 - Equities Data - Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: