News Headline Summary

US EQUITY WRAP: US stocks pare some of their session losses as Kerry gives mixed messages; finish the month in negative territory

US equities finished today's session in negative territory despite paring some of their earlier losses amid easing concerns on an imminent attack on Syria as US Secretary of State John Kerry gave mixed messages in his statement, although the main take-away was that the US is not prepared to sit on the sidelines and any action would be limited. Equities fell for most of the session ahead of the long weekend as US markets are closed for labour day on Monday. Today also marked the final day of trade for the month and as such month-end flows also put further selling pressure on US equities. In individual stocks, Salesforce.com was the best performing stock surging over 13% as their earnings report topped estimates. Apache Group shares also saw strength, gaining over 9% after the Co. announced a global strategic partnership with Sinopec to pursue joint upstream oil and gas projects. with the Co. set to receive USD 3.1bln in cash. Finally the DJIA finished down 0.21% at 14810.31, the S&P 500 down 0.32% at 1632.96 and the NASDAQ 100 down 0.63% at 3073.81.

31 Aug 2013 - 06:06 - - Source: RANsquawk

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