U.S. stocks rebound on Tuesday

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Source: Dukascopy Bank SA
U.S. equities edged higher after pairing their biggest loss this year on higher than expected profits. The S&P 500 index advanced 1% to 1,511.29 after slipping as much as 1.2% on Monday amid growing concerns about the European debt crisis. All ten groups in the benchmark gauge rose at least 0.2%. Computer Sciences Corporation jumped 9.2%, the most in the index, and led gains in the best performing technology sector that was 1.4% up after raising the company's profit forecast for this year. Furthermore, GameStop Corporation climbed 6.2% to $26.81 to pace an increase in the consumer services group, while Estee Lauder Companies rallied 6% to $64.71 after the Mac and Clinique cosmetics maker upgraded its earnings forecast for 2013 to $2.59 per share. Meanwhile, among worst performers was McGraw-Hill dropped 11% to $44.92 extending its yesterdays losses on announcement about a legal lawsuit that is seeking penalties of $5 billion for artificially raised credit ratings. Moody's Corporation declined 6.2% adding to its yesterday losses to cap further gains in financial shares.
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Wed, 06 Feb 2013 08:26:16 GMT

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