US equities eased up during after-hurricane trading

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Source: Dukascopy Bank SA
© Scanpix/AP
US stocks inched up at after-hurricane trading on Wednesday amid positive news from the eurozone. Greece agreed on its budget plan and Spain hinted that it needs EU help to meet its deficit targets. However, worse-than-expected Chicago PMI reading coupled with mixed quarterly reports created heavy pressure on the US stock index. The S&P 500 Index added 0.02% to end the session at 1,412.16. Four in ten sectors within the index climbed. The top-performers were utilities and consumer goods. Ameren gained 1.70% while Costco Wholesale rose 1.54%. Meanwhile, Ford Motor Credit Company rallied 7.72% after posting upbeat Q3 profits. Netflix surged 13.88% after Carl Icahn revealed that he acquired 10% stake in the company. At the same time, health care and technology sectors dragged the index lower. Aetna dropped 0.93% while Computer Sciences slumped 0.46%. Western Union Company was the top-lower after Moody's warned that it may lower A3 rating, citing cuts of the company's revenue and profit forecasts for 2012.


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Thu, 01 Nov 2012 16:42:13 GMT

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