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Equity Index Market Report
Mon 13 Feb 2012 11:12:01 CT
Related Keywords: Equity Index
Related Keywords: Equity Index
Mid-Session Stock Index Market Report
US equity markets trended higher overnight and into the Wall Street opening. Early support came into the market on reports that the Greek Parliament had agreed to new austerity reforms suggested by the ECB and IMF. The optimism boosted risk-taking appetites and pushed European bank shares up by more than 1.5% early this morning. The optimism toward financial-related shares helped lift US financials by nearly 1.0% this morning. However, some traders were cautious regarding the actual execution of new austerity measures, especially with heavy rioting already taking place in Athens. This pared back some of the early gains. Meanwhile, shares of Apple were up nearly 1.5% this morning on reports that the company had increased legal action against Samsung electronics over patent infringement. Another force that seemed to support technology shares was a better than 1% gain in Google. US market breadth showed advancers outpacing decliners by a 3 to 1 margin.
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