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Coutts-US close: Stocks slip as 'tapering' concerns reignited(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 05 June 2013 Release date- 04062013 - Wall Street markets finished with moderate losses on Tuesday as investors continue to guess at what move the Federal Reserve will make, if any, at its next policy meeting on June 19th. All eyes are now turning to the ADP jobs figures tomorrow, which is usually seen as a rough indicator for what to expect from the official US non-farm payrolls report due out on Friday. Analysts are predicting that the economy added around 170,000 jobs in May. Concerns about the Fed tapering its stimulus programme prematurely eased yesterday after a worse-than-expected reading of US factory activity clouded the outlook for the economy. Meanwhile, it was also revealed today that the US trade deficit widened in April, which will likely drag on economic growth in the second quarter. However, these tapering concerns were reignited today after Esther George, President of the Kansas City Fed, said that the Fed should begin to scale back quantitative easing. 'History suggests that waiting too long to acknowledge the economy's progress and prepare markets for more-normal policy settings carries no less risk than tightening too soon,' she said. ExactTarget jumps after Salesforce takeover ExactTarget soared by over a half today after the marketing software maker was bought by Salesforce.com for $ 33.75 per share, equivalent to $2.5bn. General Motors finished higher after it was announced that it will replace ketchup and condiments group Heinz on the S&P500, rejoining the index on Friday. Retailer Dollar General slumped after cutting its annual profit guidance to account for slowing sales growth. First-quarter net income rose by 3.0% year-on-year on a 9.0% increase in revenue, in line with expectations. Energy drinks group Monster Beverage meanwhile surged after reporting that gross sales in April and May jumped 9.0%, implying an acceleration in growth last month. S&P 500 - Risers Monster Beverage Corp (MNST) $59.60 +10.45% Cliffs Natural Resources Inc. (CLF) $19.19 +6.08% Pitney Bowes Inc. (PBI) $14.99 +3.74% GameStop Corp. (GME) $35.49 +3.17% QEP Resources Inc (QEP) $29.37 +2.58% L Brands Inc (LTD) $51.94 +2.39% Staples Inc. (SPLS) $15.11 +2.30% Adobe Systems Inc. (ADBE) $44.39 +2.14% Merck & Co. Inc. (MRK) $49.44 +2.04% AutoNation Inc. (AN) $47.07 +1.84% S&P 500 - Fallers Dollar General Corp (DG) $48.64 -9.17% Salesforce.Com Inc. (CRM) $37.80 -7.89% Marriott International Inc. (MAR) $40.41 -4.24% D. R. Horton Inc. (DHI) $22.92 -3.62% Quanta Services Inc. (PWR) $27.14 -3.59% PulteGroup Inc. (PHM) $20.56 -3.56% Masco Corp. (MAS) $20.02 -3.47% Biogen Idec Inc. (BIIB) $219.74 -3.36% Lowe's Companies Inc. (LOW) $40.99 -3.23% Valero Energy Corp. (VLO) $38.96 -3.20% Dow Jones I.A - Risers Merck & Co. Inc. (MRK) $49.44 +2.04% AT&T Inc. (T) $35.67 +1.71% Coca-Cola Co. (KO) $41.42 +1.49% Walt Disney Co. (DIS) $64.35 +0.86% Intel Corp. (INTC) $25.36 +0.48% McDonald's Corp. (MCD) $98.37 +0.42% Verizon Communications Inc. (VZ) $48.84 +0.37% Wal-Mart Stores Inc. (WMT) $75.94 +0.33% General Electric Co. (GE) $23.66 +0.08% Travelers Company Inc. (TRV) $83.82 +0.07% Dow Jones I.A - Fallers Home Depot Inc. (HD) $76.63 -3.10% Microsoft Corp. (MSFT) $34.99 -1.69% Alcoa Inc. (AA) $8.38 -1.64% Bank of America Corp. (BAC) $13.36 -1.40% International Business Machines Corp. (IBM) $206.19 -1.32% Hewlett-Packard Co. (HPQ) $24.62 -1.12% Boeing Co. (BA) $99.61 -1.12% United Technologies Corp. (UTX) $94.28 -1.00% Chevron Corp. (CVX) $122.96 -0.91% JP Morgan Chase & Co. (JPM) $54.04 -0.83% Nasdaq 100 - Risers Monster Beverage Corp (MNST) $59.60 +10.45% Staples Inc. (SPLS) $15.11 +2.30% Adobe Systems Inc. (ADBE) $44.39 +2.14% Seagate Technology Plc (STX) $44.74 +1.77% Vodafone Group Plc ADS (VOD) $29.33 +1.70% Texas Instruments Inc (TXN) $36.64 +1.69% Altera Corp. (ALTR) $33.67 +1.63% Avago Technologies Ltd. (AVGO) $37.80 +1.34% Comcast Corp. (CMCSA) $40.92 +1.14% Nuance Communications Inc. (NUAN) $18.98 +1.01% Nasdaq 100 - Fallers Biogen Idec Inc. (BIIB) $219.74 -3.36% Alexion Pharmaceuticals Inc. (ALXN) $92.56 -3.06% Akamai Technologies Inc. (AKAM) $44.65 -2.74% Celgene Corp. (CELG) $117.77 -2.58% Sears Holdings Corp. (SHLD) $48.04 -2.46% Expedia Inc. (EXPE) $56.13 -2.40% Randgold Resources Ltd. Ads (GOLD) $78.37 -2.37% F5 Networks Inc. (FFIV) $77.32 -2.32% Symantec Corp. (SYMC) $21.90 -2.23% Whole Foods Market Inc. (WFM) $51.24 -2.18% [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 - |