Stocks rally as bank stocks push higher $AAPL:xnas
- Published: 30 April 2012
- US equity markets pushed higher following on from the largest weekly decline of the year as Citigroup led banks higher and stronger than forecast retail sales numbers
- Citigroup Inc, the third largest bank in the U.S rose 1.8% after reporting fixed income trading revenue more than doubled for the fourth quarter. Citigroup gained $0.59 to $34.00 after rising 27 percent this year before today.
- Apple Inc. shares fell for a fifth day amid speculation that demand for the iPad may wane and that mobile-phone carriers will cut subsidies for the iPhone, eroding the profitability of Apple's best-selling products.
- DOW 71.82 pts, S&P 500 –0.69 pts, Nasdaq –22.93 pts
- Ten-year US treasury yields lost one basis point to close at 1.98 percent as the dollar weakened against 10 of 16 major peers as the Euro rose 0.5 percent to 1.3142, reversing a 0.6 percent earlier loss
- Spanish 10 year bond yields increased nine basis points to 6.07 percent and jumped as much as 18 basis pints
- On the commodity front nickel, gasoline and cotton all fell by at least 2.5 percent as crude oil gained 10 cents to finish at $102.93 per barrel
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