Major equity indexes rallied in afternoon trade to finish a third straight week of gains, with the S&P 500 logging in a five-day streak of record closing highs. Healthcare and Consumer Discretionary outperformed, while shares in Energy names led decliners as crude oil fell on supply concerns.
Earnings season continues to wind down next week with technology and retail company’s in focus. Some of the big names that are likely to garner attention include CSCO, AMAT, M, and WMT.
The U.S. economic calendar will be busy as well, with another batch of housing and employment related data here in the U.S., GDP and industrial production data from the Eurozone, and April macro data due out of China.
Dow closed up 35.87 pts/+0.24% to 15,118.49; 23 of the 30 Dow stocks closed higher.
S&P closed up 7.03 pts/+0.43% to 1,633.70; 8 of the 10 S&P 500...
The Intellidex indices, which are owned, calculated and published by NYSE, are a series of indices which select their components based on scores calculated by quantitative models. The indices then use a modified equal weighting approach whereby the large cap stocks are in one band and smaller cap stocks in another. The indices undergo a full rebalance quarterly where stocks are added or removed based on their model scores and the weights are reset. The Intellidex indices are among the first to utilize ‘smart indexing’ strategies.
The indices have performed well since their release with one of the broad based indices, the Dynamic Market Intellidex Index, returning 21.2%, 12.9% and 4.3% annually over the respective 1, 3 and 5 year periods. This outperforms other US broad based market indices over...
Executives and guests of Research Triangle Park, N.C.-based Quintiles, a global provider of biopharmaceutical development and commercial outsourcing services, will visit the New York Stock Exchange (NYSE) to celebrate the company’s initial public offering. Quintiles began trading on the NYSE today, May 9, under the ticker symbol “Q”.
In honor of the occasion, Quintiles Founder and Executive Chairman Dennis Gillings, CBE, joined by members of the company’s management team, will ring the NYSE Opening Bell on Friday, May 10, 2013.
About Quintiles (NYSE: Q)
Quintiles is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 27,000 employees conducting business in approximately 100 countries. We have helped...
From The Trading Floor: Equities are trading in mixed to positive territory this morning encouraged by continued positive earnings but a bit weary in watching the pending Group of 7 finance ministers meeting in the U.K. where they are keenly looking for signs of the pace of Central Banks stimulus.
Federal Reserve Chairman Ben Bernanke gives the keynote address at the Chicago Fed's banking conference.
So far, close to 90 percent of S&P 500 companies have posted quarterly results, with 67 percent topping earnings expectations and 24 percent missing forecasts. Only 46 percent of companies beating their revenue projections.
At 2 p.m., the federal budget for April is expected to show a year-over-year increase of $106.5 billion
Chinese lending totaled 792.9 billion yuan in April, beating estimates for 755 billion yuan
Hong Kong's economy grew 0.2% in Q1, below expectations for a 0.5...
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