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TMCNet:  Coutts-US close: Stocks rise in thin trade

[November 06, 2012]

Coutts-US close: Stocks rise in thin trade

(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 06 November 2012 Release date- 05112012 - LONDON (ShareCast) - After a hesitant morning session US markets moved ahead in the afternoon, but trading volumes were light as traders sat on their hands ahead of Tuesday's presidential election.

Stockbroker E-Trade led the S&P higher after announcing a refinancing. Graphics chip designer Nvidia led the tech-heavy NASDAQ Composite ahead of results on Thursday.

Going the other way was cable TV operator Time Warner Cable after third quarter figures came up short of expectations.

Publisher McGraw Hill was also friendless after an Australian court ruled that its credit rating arm, Standard & Poor's, misled investors by assigning AAA ratings to stocks which subsequently took a beating in the credit crunch.

Tech-darling Apple recovered some of Friday's heavy losses after revealing it sold 3m versions of the tablet device which its co-founder, Steve Jobs vowed the company would never make: the mini iPad. Nevertheless, market research firm IDC revealed that tablet devices from Samsung and Amazon gained market share in the third quarter at the expense of Apple.

Consolidation is taking place in the investment banking world, with Stifel Nicolaus set to purchase KBW for some $575m in cash and stock.

Green energy firm Fuel Cell Energy powered higher after unveiling a $181m contract with South Korean steel maker Posco.

Meantime, the ISM's service sector gauge for the month of October dropped to 54.2 points, following a reading of 55.1 in the month before (Consensus: 54.5). The new orders gauge dropped to 54.8 from 57.7 in the previous month.

Crude bounces back West Texas intermediate crude for December delivery rose 79 cents to $85.65 a barrel.

10-year US treasuries headed higher, pushing yields down by 3/100 of a percentage point to 1.68%.

S&P 500 - Risers E*TRADE Financial Corp. (ETFC) $8.77 +4.40% Cameron International Corp. (CAM) $51.85 +4.30% Nvidia Corp. (NVDA) $13.02 +4.24% Tesoro Corp. (TSO) $36.93 +4.15% Jabil Circuit Inc. (JBL) $18.10 +4.02% Abercrombie & Fitch Co. (ANF) $34.07 +3.94% Dover Corp. (DOV) $60.82 +3.82% Tenet Healthcare Corp. (THC) $25.92 +3.56% Lennar Corp. Class A (LEN) $38.62 +3.51% First Solar Inc. (FSLR) $23.33 +3.48% S&P 500 - Fallers Wynn Resorts Ltd. (WYNN) $111.52 -7.68% Time Warner Cable Inc. (TWC) $91.93 -6.36% Pall Corp. (PLL) $60.81 -4.91% Entergy Corp. (ETR) $67.90 -4.68% FirstEnergy Corp. (FE) $42.55 -4.30% McGraw-Hill Companies Inc. (MHP) $52.24 -4.02% Moody's Corp. (MCO) $46.60 -2.96% AES Corp. (AES) $10.37 -2.72% R.R. Donnelley & Sons Co. (RRD) $9.93 -2.56% Southern Co. (SO) $44.62 -2.51% Dow Jones I.A - Risers Hewlett-Packard Co. (HPQ) $14.01 +1.82% Caterpillar Inc. (CAT) $86.77 +1.14% Walt Disney Co. (DIS) $50.32 +0.92% Chevron Corp. (CVX) $109.19 +0.76% Dow Jones I.A - Fallers Bank of America Corp. (BAC) $9.75 -1.02% Intel Corp. (INTC) $21.84 -1.00% Coca-Cola Co. (KO) $36.77 -0.84% Procter & Gamble Co. (PG) $68.67 -0.75% Nasdaq 100 - Risers Nvidia Corp. (NVDA) $13.02 +4.24% Flextronics International Ltd. (FLEX) $5.94 +3.48% Texas Instruments Inc (TXN) $29.47 +3.29% Vertex Pharmaceuticals Inc. (VRTX) $46.41 +3.11% F5 Networks Inc. (FFIV) $85.13 +3.08% Seagate Technology Plc (STX) $28.84 +2.94% Applied Materials Inc. (AMAT) $11.09 +2.59% Altera Corp. (ALTR) $31.21 +2.29% Monster Beverage Corp (MNST) $45.04 +2.29% Maxim Integrated Products Inc. (MXIM) $28.72 +2.28% Nasdaq 100 - Fallers Wynn Resorts Ltd. (WYNN) $111.52 -7.68% Sirius Satellite Radio Inc. (SIRI) $2.83 -2.41% Green Mountain Coffee Roasters Inc. (GMCR) $25.15 -2.03% Warner Chilcott Plc (WCRX) $11.24 -2.01% Automatic Data Processing Inc. (ADP) $56.40 -1.69% Fastenal Co. (FAST) $43.19 -1.39% Baidu Inc. (BIDU) $103.80 -1.23% Intel Corp. (INTC) $21.84 -1.00% [Editorial queries for this story should be sent to newswire@enpublishing.co.uk] ((Comments on this story may be sent to info@enpublishing.co.uk)) (c) 2012 Electronic News Publishing -

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