US stocks rebounded on Monday

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Source: Dukascopy Bank SA
US equities rebounded after a sharp decline on Friday. Quarterly reports continued to drive the markets. Investors were also cautious ahead of the FOMC meeting and flesh PMI releases across the globe due later in the week. The S&P 500 Index eased up 0.04% to close at 1,433.82. Only two in ten sectors within the index managed to climb. The only gainers were technology companies and basic materials. Peabody Energy was the top-performer, soaring by 11.82%. The company reported upbeat profits for the last quarter and reaffirmed its full-year earnings estimate. Apple led gains in technology sector, jumping by 3.97% on stronger-than-expected earnings in Q3. Among technology firms, Yahoo! and Texas Instruments were in focus as both companies were scheduled for a release of quarterly results after Monday's closing bell. Yahoo! and Texas Instruments shed 0.44% and 0.07%. On the downside were telecommunications and oil and gas companies. Crown Castle International dropped 0.44% while Andarko Petroleum lost 1.58%.

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Tue, 23 Oct 2012 15:17:53 GMT

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