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Recap Stock Index Market Report
Wed 05 Dec 2012 14:41:11 CT
Related Keywords: Equity Index
Related Keywords: Equity Index
The December S&P 500 experienced a volatile trading session that culminated in a positive outside day reversal. Equities came under pressure shortly after the Wall Street opening, weighed down by 15% slide in the shares of Freeport-McMoran on a $9 billion acquisition deal. The technology sector remained a drag throughout the session, weighed down by a more than 4% downdraft in Apple, on news that a clearing firm boosted margin requirements for the stock. Equity market sentiment took a positive turn during the later morning hours on comments from President Obama that a deal on the fiscal cliff could come next week. Financial shares were among the upside leaders on the session, helped by gains in Citigroup on reports the company was reducing its workforce by 11%. Shares of Travelers were up 5% on the session on slightly smaller than expected damages from Hurricane Sandy.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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