News Headline Summary

US EQUITY WRAP: Microsoft lifts the NASDAQ as CEO Ballmer announces his departure

All three major indices posted gains on the last trading day of the week. However, focus was on the outperforming NASDAQ, after Microsoft’s Steve Ballmer announced that his 13-year tenure as CEO will come to an end within the next 12 months, pushing the Co.’s shares up 7%. Elsewhere, home-builders comprised much of the laggard list, after US new home sales data posted a firm miss on expectations. Nonetheless, equity markets went on to rally into the close of trade, as a significant pick-up in volume was observed. Finally the DJIA finished up 0.31% at 15010.36, the S&P 500 up 0.39% at 1663.47 and the NASDAQ 100 up 0.72% at 3124.27.

23 Aug 2013 - 22:05 - - Source: RANsquawk

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