Stocks rally off their lows to finish flat $AUDUSD
- Published: 21 August 2012
- Markets ended the session flat after paring earlier losses with the Dow closing slightly down to end a three day winning streak. Stocks however remained at near four year highs with strong performances from tech stocks
- Stocks continue to trade in a narrow range with the summer holidays, lack of economic data and cautiousness surrounding Europe hurting volumes
- Key movers among the S&P500 were tech stocks while the defensive telecommunication stocks and consumer discretionary stocks lagged
- Apple continues to rise now becoming the largest company of all time by market capitalization after it increased another 2.6% overnight
- Coventry Health Care led the gains on the S&P500 by rising 20.32% after insurer Aetna bought the company for USD5.6 Billion in cash and stock
- Leading the gains in the Dow was HPQ and BAC up 2.92% and 1.87%
- DOW –0.03%, S&P500 –0.00% and NASDAQ –0.01%
- The USD was down slightly against the USD, while Treasury yields fell
- Gold climbed on stimulus hopes and Crude was flat due to ECB speculation
