Fri 27 Apr 2012 15:15:05 CT
After a weak early morning trade, the June S&P 500 reversed course and traded up to its highest level since April 4th. The June S&P 500 traded down as much as 10.00 points in early in response to a credit rating downgrade for Spain. The market began garnered support from strong earnings results from Amazon late Thursday, which fueled a 15.0% gain in those shares. Equity markets sold off in the wake of a weaker than expected read on US first-quarter growth, but a surge in consumer spending during the quarter helped offset the negative headline reading. Most of the major S&P sector indices were in positive territory, led by consumer discretionary names. The June S&P 500 finished the week with a gain of around 1.8%.
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