US close: S&P 500 pulls back from record levels

Sharecast

LONDON (ShareCast) - - Yellen receives credit for speech at G20
- Markit services PMI retreats in February, due to weather
- S&P 500 erases losses for the year

Dow Jones Industrials: 0.64%
Nasdaq Composite: 0.69%
S&P 500: 0.64%

The main US equity benchmarks ended the day on the up but off their best levels of the session.

At 1,847.71 points the S&P 500 ended trading just below its previous record close of 1,848.38, after having established a fresh intra-day record.

That came after Federal Reserve Chair Janet Yellen smoothed over concerns about the impact monetary stimulus tapering would have on emerging markets.

Yellen, who took over from Ben Bernanke early this month, indicated that the central bank would continue to scale back asset purchases at each policy meeting until ending the programme all together later this year.

The move raised fears that it would hurt the recovery of emerging markets amid weakening prices.

However, in her first global forum as Chair, Yellen won praise for helping to ease such concerns at the Group of 20 Finance Ministers meeting in Sydney over the weekend.

The S&P 500´s rise on Monday might be linked to the above. The benchmark gauge set a new intraday high and erased all of its losses for the year in afternoon trading.

Sydney, India and South Africa were among the nations urging the Fed to consider the spillover effects of withdrawing stimulus.

Australian Treasurer Joe Hockey said Yellen was "hugely impressive" in dealing with the issue. "There was proper recognition that the movement of monetary policy in major developed countries either way, whether it be tightening or easing, is going to have an impact on emerging economies," he said in a speech.

It was a generally quiet day for macroeconomics with the focus on company news.

From a sector stand-point the best performance was seen in the following industrial groups: Gambling (3.55%), Oil equipment (2.38%) and Healthcare (2.24%).

Comcast Corp. rallied following reports Netflix (NasdaqGS: NFLX - news) has agreed to pay for direct access to the cable company's broadband network. Netflix, on the other hand, declined.

Humana Inc (NYSE: HUM - news) . slumped as the US government proposed cutting payments made under the Medicare Advantage programme for 2015.

Chesapeake Energy Corp. advanced after the US natural gas (Other OTC: UNGS - news) producer announced plans to either sell or spin off its oilfield-services unit.

Services PMI retreats as activity hit by weather

Survey compiler Markit´s preliminary service sector Purchasing Managers´ Index for the month of February slipped to a reading of 52.7 from 56.7 in the month before. Markit attributed the drop-off seen in production to the impact of adverse weather.

Front month West Texas crude futures were lower by 0.41% to the $102.41/barrel mark on the NYMEX.

10-year US Treasury yields retreated by one basis point to 2.74%.


S&P 500 - Risers
Humana Inc. (HUM) $113.69 +10.57%
Dun & Bradstreet Corp (NYSE: DNB - news) . (DNB (Other OTC: DNBHF - news) ) $99.72 +4.38%
Pioneer Natural Resources Co (NYSE: PXD - news) . (PXD) $194.74 +4.09%
Regeneron Pharmaceuticals Inc (NasdaqGS: REGN - news) . (REGN) $347.62 +3.77%
Noble Energy Inc (NYSE: NBL - news) . (NBL) $69.33 +3.69%
Netflix Inc. (NFLX) $447.00 +3.42%
Baker Hughes Inc (Stuttgart: BHU.SG - news) . (BHI) $63.08 +3.38%
First Solar Inc (Xetra: F3A.DE - news) . (FSLR) $57.75 +3.25%
Facebook Inc (NasdaqGS: FB - news) . (FB) $70.78 +3.19%
Wynn Resorts Ltd (NasdaqGS: WYNN - news) . (WYNN) $235.59 +3.17%

S&P 500 - Fallers
Sears Holdings Corp. (SHLD) $38.05 -7.04%
Cintas Corp. (CTAS) $59.52 -3.47%
United States Steel Corp (NYSE: X - news) . (X) $24.16 -3.36%
Monsanto Co. (MON) $108.97 -3.09%
Mohawk Inds Inc. (MHK) $139.24 -2.93%
Cliffs Natural Resources Inc (NYSE: CLF - news) . (CLF) $21.35 -2.82%
AES Corp. (AES (Frankfurt: AES.F - news) ) $14.27 -2.46%
Pitney Bowes Inc (NYSE: PBI - news) . (PBI) $24.68 -1.71%
Autodesk Inc (NasdaqGS: ADSK - news) . (ADSK) $54.47 -1.68%
Mylan Inc (NasdaqGS: MYL - news) . (MYL) $51.05 -1.68%

Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $76.01 +2.98%
Nike Inc (NYSE: NKE - news) . (NKE) $77.84 +1.78%
Pfizer Inc (NYSE: PFE - news) . (PFE) $31.99 +1.68%
Exxon Mobil Corp. (XOM) $96.44 +1.48%
General Electric Co. (GE) $25.29 +1.40%
American Express Co. (AXP) $89.92 +1.32%
Chevron Corp. (CVX) $114.15 +1.30%
Visa Inc (NYSE: V - news) . (V) $226.19 +1.27%
Goldman Sachs Group Inc. (GS (KSE: 078935.KS - news) ) $166.54 +1.24%
Boeing Co (NYSE: BA - news) . (BA) $129.59 +1.02%

Dow Jones I.A - Fallers
Verizon Communications Inc (LSE: VZC.L - news) . (VZ) $46.54 -1.54%
AT&T Inc (NYSE: T - news) . (T) $32.47 -1.01%
Microsoft Corp. (MSFT) $37.69 -0.76%
Johnson & Johnson (NYSE: JNJ - news) (JNJ) $91.11 -0.45%
E.I. du Pont de Nemours and Co. (DD) $64.58 -0.45%
Travelers Company Inc. (TRV) $83.44 -0.42%
Caterpillar Inc (NYSE: CAT - news) . (CAT (Taiwan OTC: 4990.TWO - news) ) $97.32 -0.18%
Procter & Gamble Co. (PG) $77.86 -0.14%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $22.12 -0.05%

Nasdaq 100 - Risers
Vodafone Group Plc ADS (VOD) $41.20 +5.64%
Tesla Motors Inc (Xetra: A1CX3T - news) (TSLA) $217.65 +3.84%
Regeneron Pharmaceuticals Inc. (REGN) $347.62 +3.77%
Netflix Inc. (NFLX) $447.00 +3.42%
Facebook Inc. (FB) $70.78 +3.19%
Wynn Resorts Ltd. (WYNN) $235.59 +3.17%
eBay Inc. (EBAY (NasdaqGS: EBAY - news) ) $56.30 +3.13%
PACCAR Inc (NasdaqGS: PCAR - news) . (PCAR) $64.19 +2.92%
Ross Stores Inc (NasdaqGS: ROST - news) . (ROST) $69.27 +2.70%
Illumina Inc (NasdaqGS: ILMN - news) . (ILMN) $178.53 +2.57%

Nasdaq 100 - Fallers
Autodesk Inc. (ADSK) $54.47 -1.68%
Mylan Inc. (MYL) $51.05 -1.68%
CH Robinson Worldwide Inc (NasdaqGS: CHRW - news) (CHRW) $53.34 -1.44%
Liberty Interactive Corp (LINTA) $29.45 -1.41%
Sba Communications Corp (NasdaqGS: SBAC - news) . (SBAC) $95.90 -1.37%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $24.75 -1.32%
Green Mountain Coffee Roasters Inc (Xetra: 887856 - news) . (GMCR) $121.49 -1.26%
Charter Communications Inc (NasdaqGS: CHTR - news) . (CHTR) $123.58 -1.20%
Nxp Semiconductors Nv (NasdaqGS: NXPI - news) (NXPI) $55.55 -1.07%
Vertex Pharmaceuticals Inc. (VRTX) $83.95 -1.01%

AB

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