News Column

Coutts-US close: Fourth consecutive day of gains, Apple in focus

June 10, 2014

ENP Newswire - 10 June 2014

Release date- 09062014 - US close: Fourth consecutive day of gains, Apple in focus.

Dow and S&P hit new highs - Concerns about pullback - Apple in focus after stock split Dow Jones +18.82 16,943.10 Nasdaq +14.84 4,336.24 S&P 500 +1.83 1,951.27 It was a relatively quiet day over in the States following last week's strong jobs data, but all three of the main indices ended in positive territory, pushing both the Dow Jones and the S&P 500 to fresh highs.

However, the gains have given rise to an increasing degree of nervousness that a correction is now due.

Alastair McCaig, Market Analyst at IG, said: 'US markets have moved higher again this afternoon, registering fresh highs, but the S&P 500 now looks overbought and vulnerable to profit-taking if more good news does not appear soon.

'Unfortunately it seems that is in short supply, leaving the index at risk of a short, sharp correction that could see it drop back towards the Friday low of 1,940.' Meanwhile, much of the day's focus was on tech giant Apple on the back of talk of new products, which are said to be particularly important following the stock split - its first in more than nine years.

McCaig explained that 'the more optimistic will be looking for the company to be added to the Dow Jones in due course, truly a sign that the world's most recognisable tech brand has now joined the ranks of the establishment'.

Oil reaches highest level in three months Oil futures climbed to their highest level since March, boosted in part by positive Asian data.

oil futures were up 1.7% to settle at $104.41 a barrel, while Brent was up 1.18%.


to acquire Idenix Pharmaceuticals giant Merck&Co.

will acquire Idenix for approximately $3.85bn in cash, an amount which is equivalent to $24.5 per share.

In a press statement, the former highlighted Idenix's 'promising' portfolio of drugs for the treatment of hepatitis-C (HCV), which compliments its own therapies now in development for the development of a once-daily oral regimen to treat against the virus. Tyson Foods was a notable faller following the announcement of its acquisition of Hillshire Brands, which, having been valued at $8.55bn, rose strongly.

Shares in Family Dollar Stores jumped after Carl Icahn an activist investor, was declared as having a 9.4% stake, revealing he has plans to boost shareholder value.

S&P 500 - Risers International Game Technology (IGT) $14.31 +14.39% Family Dollar Stores Inc.

(FDO) $68.61 +13.35% Dollar General Corp (DG) $62.24 +7.33% E*TRADE Financial Corp.

(ETFC) $21.14 +6.39% Analog Devices Inc.

(ADI) $55.32 +4.99% Comerica Inc.

(CMA) $50.80 +3.55% Clorox Co.

(CLX) $92.65 +3.52% Garmin Ltd.

(GRMN) $60.78 +3.24% Citrix Systems Inc.

(CTXS) $62.76 +2.55% Kraft Foods Group, Inc.

(KRFT) $60.43 +2.49% S&P 500 - Fallers Apple Inc.

(AAPL) $93.70 -85.49% Union Pacific Corp.

(UNP) $102.12 -49.41% Tyson Foods Inc.

(TSN) $37.49 -6.56% Gilead Sciences Inc.

(GILD) $79.01 -4.58% Time Warner Inc.

(TWX) $69.00 -2.93% Boston Scientific Corp.

(BSX) $12.75 -2.89% Wynn Resorts Ltd.

(WYNN) $199.05 -2.89% Frontier Communications Co.

(FTR) $5.56 -2.80% Mead Johnson Nutrition Co.

(MJN) $87.38 -2.72% AbbVie Inc (ABBV) $53.83 -2.30% Dow Jones I.A - Risers Walt Disney Co.

(DIS) $85.47 +1.02% United Technologies Corp.

(UTX) $120.08 +0.99% General Electric Co.

(GE) $27.44 +0.96% Intel Corp.

(INTC) $27.91 +0.90% JP Morgan Chase & Co.

(JPM) $57.42 +0.79% American Express Co.

(AXP) $95.57 +0.70% Nike Inc.

(NKE) $76.66 +0.56% Caterpillar Inc.

(CAT) $108.76 +0.54% 3M Co.

(MMM) $145.32 +0.47% Cisco Systems Inc.

(CSCO) $24.80 +0.40% Dow Jones I.A - Fallers McDonald's Corp.

(MCD) $101.38 -0.57% Microsoft Corp.

(MSFT) $41.27 -0.51% E.I.

du Pont de Nemours and Co.

(DD) $69.44 -0.33% Pfizer Inc.

(PFE) $29.34 -0.27% Wal-Mart Stores Inc.

(WMT) $77.01 -0.26% Visa Inc.

(V) $212.54 -0.22% Unitedhealth Group Inc.

(UNH) $79.77 -0.20% Coca-Cola Co.

(KO) $40.91 -0.20% Boeing Co.

(BA) $137.95 -0.19% Goldman Sachs Group Inc.

(GS) $166.00 -0.11% Nasdaq 100 - Risers Analog Devices Inc.

(ADI) $55.32 +4.99% Illumina Inc.

(ILMN) $171.29 +4.39% Garmin Ltd.

(GRMN) $60.78 +3.24% Citrix Systems Inc.

(CTXS) $62.76 +2.55% Kraft Foods Group, Inc.

(KRFT) $60.43 +2.49% KLA-Tencor Corp.

(KLAC) $68.02 +2.36% Liberty Interactive Corp (LINTA) $29.85 +2.03% Fastenal Co.

(FAST) $50.59 +1.89% Activision Blizzard Inc.

(ATVI) $21.29 +1.77% Cognizant Technology Solutions Corp.

(CTSH) $49.82 +1.67% Nasdaq 100 - Fallers Apple Inc.

(AAPL) $93.70 -85.49% Gilead Sciences Inc.

(GILD) $79.01 -4.58% Wynn Resorts Ltd.

(WYNN) $199.05 -2.89% eBay Inc.

(EBAY) $49.58 -1.97% Micron Technology Inc.

(MU) $29.00 -1.84% Sandisk Corp.

(SNDK) $98.17 -1.84% Netflix Inc.

(NFLX) $423.09 -1.64% Alexion Pharmaceuticals Inc.

(ALXN) $167.81 -1.40% Tesla Motors Inc (TSLA) $205.31 -1.37% Amgen Inc.

(AMGN) $116.40 -1.21% NR

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Source: ENP Newswire

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