Markets ended the session flat as investors look to Fed $HTZ:xnys
- Published: 28 August 2012
- Markets took on a cautious tone overnight ending flat as investors look towards Fed Chairman Bernanke's speech this week at Jackson Hole
- The cautious tone could be seen in the CBOE VIX Index with the fear gauge ending up above 16.00. The cautious tone extended to the S&P500 with utilities moving higher. Tech stocks were also strong, led by gains in Apple. Material stocks were the laggards closing lower overnight
- Apple again led the market higher closing at an all time higher of $675.68 after the tech giant won a key lawsuit against its bitter rival Samsung
- Google the parent of the Android operating system used in Samsung phones fell 1.39% as Apple now pushes to ban certain Samsung products from sale in the US following its court case victory
- Luxury jeweller Tiffany & Co rallied 7.2% despite cutting full year earnings and revenue guidance after the company expects a strong holiday season
- DOW -0.25%, S&P500 –0.05% and NASDAQ +0.11%
- USD found some strength against the EUR late in the session on safety play
- Gold consolidates previous sessions gains, Crude edges higher overnight
