US equities inched up on strong US data

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Source: Dukascopy Bank SA
US stocks inched up on Tuesday on persistent support from upbeat manufacturing data. Stronger-than-expected vehicle sales also lifted US stocks. However, the market sentiment was weakened by disappointing news from eurozone. Spain is still uncertain whether to apply for a new bailout this weekend. S&P 500 Index added 0.09% to close at 1,445.75. Seven out of ten sectors within the index advanced. The top-gainers were health care and utility companies, moving higher by 0.49% and 0.42%. AmerisourceBergen and Becton Dickinson added 0.10% and 0.32% while Ameren and American Electric Power advanced 1.08% and 0.59%. On the upside was also MetroPCS, surging 17.80%; the company is talks about merger  with Deutsche Telecom's T-Mobile USA. At the same time, basic materials tumbled as weak demand from China and India is hurting profits. Mosaic, Monsanto and Ecolab tumbled 3.88%, 0.62% and 0.18%, respectively.

 

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