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Coutts-US close: Retail sales and Fed speculation produce mixed result(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 14 May 2013 Release date- 13052013 - It proved to be a volatile session in the US on Monday, influenced by retail price sales, speculation over the Fed's next move, and expectations of forthcoming data due out this week. The Dow Jones finished lower, the Nasdaq marginally higher and the S&P 500 closed flat. US retail sales rose by 0.1% month-on-month in April, well ahead of consensus forecasts for a drop of 0.3%. According to the Commerce Department, retail spending was up 0.7%, indicating a rise in consumer spending, which accounts for around two-thirds of all economic activity in the US. Meanwhile, following on from the Federal Chairman Ben Bernanke's comments Friday, traders are now on the watch for those risks associated with low interest rates. They are also likely pondering when the Fed is likely to begin easing back on its $85bn-a-month bond-buying programme. Key data out this week includes Wednesday's Empire State index and Thursday's Philadelphia Fed data. Worth pointing out, Goldman Sachs equity strategists are said to be forecasting a 7.0% drop in shares over the next six months, although their end-2014 target for the S&P 500 is now at 1,775. Over the weekend Japanese authorities received their peers' implicit approval for their most recent economic policy decisions. That came against the backdrop of some negative 'market chatter' regarding the outlook for Spain's public finances. Also acting as a backdrop, according to some observers an article in today's Wall Street Journal pointed towards a more conservative Fed going forward. In company news, fast food giant Yum! Brands, which operates the KFC and Pizza Hut dining chains, reported a slump in April sales in China. Shares of Corning climbed as analysts at Barclays raised their recommendation on the shares to overweight. FBR has upped its view on Cisco Systems to 'market perform' from 'underperform'. Elan Corp. will pay $1.0bn for a share in the royalties from Theravance's new drugs. Dealogic data, cited by Bloomberg, shows that this year is on track to be the best for initial public offerings since before the finanial crisis. Sixty-four companies have raised $16.8bn in new financing year-to-date. PC manufacturer Dell's special committee asked billionaire Carl Icahn for more information about his proposed takeover. Front month crude oil futures fell 0.91% to $95.17 per barrel on the NYMEX, while gold futures dipped 0.16% to $1,434.30 per troy ounce. S&P 500 - Risers Advanced Micro Devices Inc. (AMD) $4.17 +5.57% Netflix Inc. (NFLX) $229.35 +5.35% Biogen Idec Inc. (BIIB) $222.74 +4.46% Gilead Sciences Inc. (GILD) $54.48 +3.03% J.C. Penney Co. Inc. (JCP) $18.24 +2.93% Eli Lilly and Company (LLY) $56.28 +2.66% CBS Corp. (CBS) $48.98 +2.58% Boston Scientific Corp. (BSX) $8.65 +2.37% Federated Investors Inc. (FII) $24.66 +2.37% St Jude Medical Inc. (STJ) $45.22 +2.35% S&P 500 - Fallers Peabody Energy Corp. (BTU) $20.14 -4.14% Janus Capital Group Inc. (JNS) $8.60 -3.59% Alpha Natural Res (ANR) $7.01 -3.58% United States Steel Corp. (X) $18.56 -3.48% Cognizant Technology Solutions Corp. (CTSH) $62.88 -3.31% Electronic Arts Inc. (EA) $21.74 -3.29% Mosaic Company (MOS) $61.25 -3.21% Adt Corp (ADT) $42.81 -2.99% Frontier Communications Co. (FTR) $4.13 -2.94% Pitney Bowes Inc. (PBI) $15.00 -2.85% Dow Jones I.A - Risers Pfizer Inc. (PFE) $29.37 +2.26% JP Morgan Chase & Co. (JPM) $49.68 +1.47% Microsoft Corp. (MSFT) $33.06 +1.13% Home Depot Inc. (HD) $76.67 +0.87% Cisco Systems Inc. (CSCO) $21.27 +0.81% Boeing Co. (BA) $94.76 +0.55% Merck & Co. Inc. (MRK) $46.17 +0.48% McDonald's Corp. (MCD) $100.38 +0.18% Walt Disney Co. (DIS) $67.32 +0.18% Johnson & Johnson (JNJ) $85.85 +0.10% Dow Jones I.A - Fallers Alcoa Inc. (AA) $8.53 -1.95% E.I. du Pont de Nemours and Co. (DD) $54.45 -1.82% Intel Corp. (INTC) $24.08 -1.71% International Business Machines Corp. (IBM) $202.47 -0.98% AT&T Inc. (T) $37.00 -0.96% Hewlett-Packard Co. (HPQ) $21.35 -0.88% Unitedhealth Group Inc. (UNH) $62.39 -0.83% Caterpillar Inc. (CAT) $88.07 -0.62% Verizon Communications Inc. (VZ) $52.57 -0.61% Wal-Mart Stores Inc. (WMT) $78.50 -0.49% Nasdaq 100 - Risers Biogen Idec Inc. (BIIB) $222.74 +4.46% Gilead Sciences Inc. (GILD) $54.48 +3.03% Regeneron Pharmaceuticals Inc. (REGN) $280.58 +2.59% Celgene Corp. (CELG) $129.66 +1.73% Priceline.Com Inc. (PCLN) $777.55 +1.59% Sandisk Corp. (SNDK) $57.90 +1.17% Microsoft Corp. (MSFT) $33.06 +1.13% Equinix Inc. (EQIX) $226.00 +1.01% Expedia Inc. (EXPE) $59.45 +0.99% Wynn Resorts Ltd. (WYNN) $140.35 +0.90% Nasdaq 100 - Fallers Cognizant Technology Solutions Corp. (CTSH) $62.88 -3.31% Intuitive Surgical Inc. (ISRG) $485.69 -2.78% Randgold Resources Ltd. Ads (GOLD) $76.61 -2.56% Baidu Inc. (BIDU) $93.13 -2.43% Autodesk Inc. (ADSK) $38.90 -2.14% Nvidia Corp. (NVDA) $14.24 -2.06% F5 Networks Inc. (FFIV) $78.34 -2.06% Intuit Inc. (INTU) $58.99 -2.01% Applied Materials Inc. (AMAT) $14.69 -1.87% Activision Blizzard Inc. (ATVI) $14.68 -1.81% [Editorial queries for this story should be sent to [email protected]] ((Comments on this story may be sent to [email protected])) (c) 2013 Electronic News Publishing - |