Wed 08 Aug 2012 11:09:00 CT
US equity markets came into the early morning session in negative territory but have been able to turn positive heading into mid day. It seemed that a combination of disappointing same store sales readings for McDonalds and renewed concerns over the European debt situation soured the early tone. Meanwhile, better than expected earnings from Macy's, and an upwardly revised forward guidance, lifted those shares by more than 2.0%. The tech-heavy NASDAQ drafted support from an increase in Hewlett-Packard's Q3 outlook and talk that Research In Motion was in talks with Samsung over a potential partnership. The outside tone improved throughout the morning, as did market breadth on the New York Stock Exchange. Six of the ten S&P sector indices were in positive territory, led by material and consumer staples-related shares.
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