News Headline Summary

US EQUITY WRAP: US equities benefit from lower Syria diplomacy progress and strong Chinese macro data

US Equities traded in positive territory throughout yesterday's session and the DJIA saw its best two day gain since late June, after better than expected Chinese Industrial Production and Retail Sales data releases set the tone for a higher risk appetite. US equities maintained their strength as a the possibility of a US military strike in Syria dissipated after Syria accepted the Russian proposal to hand their chemical weapons over to international control. US President Obama then confirmed earlier comments from Congressional aides, stating that a vote on Syria should be delayed until the Russian proposal had played out.
In individual stock news Apple shares suffered losses of around 2.5% as their WWDC failed to reveal any surprises and with the expected announcement of the 5c and 5s, while the pricing of the new cheaper brand, the 5c, is seen to be too high for the model to be successful in the Chinese market.
Finally the DJIA finished up 0.85% at 15191.06, the S&P 500 up 0.73% at 1683.99 and the NASDAQ 100 up 0.48% at 3185.07.

10 Sep 2013 - 21:03 - 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: