S&P to its highest in 5 years as Chinese exports rally

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Source: Dukascopy Bank SA
U.S. shares rallied to their highest in five years, as Chinese exports rose more-than-expected. The S&P 500 gained 0.8% to 1,472.12, the highest level since the year 2007. All sectors in the gauge edged higher with financial shares posting the biggest gain sin the gauge. Bank of America and Morgan Stanley added around 3%. Tesoro Corporation was the best performing company by surging 5.9% to $42.85, leading gains in the oil and gas sector that was 0.96% up. Best Buy Corporation increased 5.35% to $12.21, pacing a 0.7% increase in the consumer goods sector. Furthermore, Urban Outfitters Inc. gained 4.64% to $4.64 also supporting the consumer services sectors. Alongside to that, among worst performers was Tiffany & Co with its shares tumbling 4.5% to $60.40, halting a further increase in the consumer services sector after the jewellery-retailer announced that its year-earnings will be at the bottom line of the estimates. Monster Beverage lost 3.12% to $48.76 also bounding the increase in consumer services shares.

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