Equities finished higher, in spite of economic data not meeting analyst estimates, as higher WTI prices helped push indices higher. As a result of gains in WTI prices, energy majors posted solid gains, with Exxon (2.22%) finishing a leading gainer in S&P 500 index. Also, giving boost to the S&P 500 index was Microsoft (2.18%) after both Collins Stewart and Deutsche Bank raised the price target estimate on the stock. Later in the session saw some positive Ford (+3.03%) comments, with the auto maker saying that the H2 will be an improvement on H1. Moreover, the session saw indices trade sideways for much of the day amid a light calendar and lower volumes. At the closing bell DJI closed up 1.08% at 8529.38, S&P 500 closed up 0.91% at 927.23 and NASDAQ100 closed up 0.25% 1483.83.
Apollo Group – Q3 adjusted EPS USD 0.85 vs. Exp. USD 1.12, Q3 revenue USD 1.053bln vs. Exp. USD 1.038bln. (BBG)
Overnight trade saw Treasuries benefit from comments by PBOC’s Zhou who said that FX reserve policy is stable-consistent, targeting safety and return. As a result, at the pit open USTs moved higher and built on gains after lower than expected Chicago Fed data put pressure on equities. Later on saw Treasuries move off their best levels of the session but still trade in slight positive territory. Finally, at the pit close T-notes finished up 1+ ticks at 116.145. Sphere: Related Content
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