S&P500 moves higher for the fourth day in a row $LCC:xnys
- Published: 25 May 2012
- The S&P500 has now strung together four up days in a row after the recent Greek induced market sell off which saw much of the years gains reversed
- Interim Italian PM Mario Monti and other European leaders showed support for a Euro Bond which has thus far been strongly opposed by Germany
- US Manufacturing data in May grew at its slowest pace in three months as US companies placed fewer orders indicating the economy may be cooling
- US Airways rallied 10.5% for its biggest one day gain since November 2010
- Tiffany's & Co fell 6.8% after the jeweller lowered its 2012 profit and sales forecast due to weaker demand both domestically and overseas
- Leading the gains on the Dow was HPQ, HA and KO each rallying 3.27%, 1.99% and 1.35% respectively. CSCO led the losses, down 1.80%
- DOW +0.27%, S&P500 +0.14%, NASDAQ –0.38%
- The US Dollar Index rallied overnight and the AUD made a low of 0.9715
- Gold was weaker before stabilizing this morning and Oil is pushing US91.00
