LONDON (SHARECAST) - -S&P 500 trading near 5 year average PE multiple
-Apple may unveil iPhone 5 this week
Dow Jones Industrial: -0.14%
Nasdaq Comp.: -0.25%
S&P 500: -0.08%
The main US equity benchmarks are now trading slightly lower. That ahead of a weekly calendar brimming with potentially market-moving events and following weak data out in China and Japan overnight.
For now however investors seem to be pausing ahead of this next Thursday’s rate setting meeting of the US Federal Reserve. Traders are also closely watching events in Greece and Spain.
Back on the corporate front, AIG is down after the US Treasury announced its intention to lower its stake in the former insurance giant to below 50%.
Plains Exploration&Production will purchase $5.5bn in Gulf of Mexico assets from BP.
Of interest, the S&P 500 is now changing hands at 13.9 times the expected earnings of its members, according to data compiled by Bloomberg. That’s the highest since February 2011 and almost matches the average ratio since 2007 of 14.
Goldman Sachs has cut its recommendation on shares of Wells Fargo to buy from Conviction buy.
10 year US Treasuries are now flat, with yields at 1.67%.
Front month West Texas crude futures are declining by 0.85% to the 95,60 dollar per barrel mark on the NYMEX.
S&P 500 - Risers
Cliffs Natural Resources Inc. (CLF) $41.17 +3.16%
Advanced Micro Devices Inc. (AMD) $3.54 +2.61%
Sprint Nextel Corporation (S) $5.16 +2.58%
First Solar Inc. (FSLR) $20.93 +2.40%
Alpha Natural Res (ANR) $7.06 +2.32%
Vulcan Materials Co. (VMC) $41.25 +2.23%
Cabot Oil & Gas Corp. (COG) $42.98 +1.92%
PPG Industries Inc. (PPG) $115.27 +1.88%
Tesoro Corp. (TSO) $40.84 +1.74%
Regions Financial Corp. (RF) $7.49 +1.70%
S&P 500 - Fallers
International Paper Co. (IP) $34.74 -4.28%
Chesapeake Energy Corp. (CHK) $19.67 -3.32%
American International Group Inc. (AIG) $32.94 -3.09%
Boeing Co. (BA) $71.03 -2.55%
Mosaic Company (MOS) $59.57 -2.36%
Intel Corp. (INTC) $23.67 -2.15%
Colgate-Palmolive Co. (CL) $104.05 -2.12%
Express Scripts Holding Co (ESRX) $61.99 -2.07%
Constellation Brands Inc. Class A (STZ) $32.96 -2.05%
Celgene Corp. (CELG) $73.98 -1.94%
Dow Jones I.A - Risers
Alcoa Inc. (AA) $9.25 +1.65%
Home Depot Inc. (HD) $57.60 +0.59%
Verizon Communications Inc. (VZ) $43.89 +0.39%
Caterpillar Inc. (CAT) $88.42 +0.36%
Bank of America Corp. (BAC) $8.82 +0.23%
Merck & Co. Inc. (MRK) $44.14 +0.20%
Chevron Corp. (CVX) $114.23 +0.20%
American Express Co. (AXP) $57.83 +0.17%
AT&T Inc. (T) $37.34 +0.11%
Travelers Company Inc. (TRV) $65.25 +0.06%
Dow Jones I.A - Fallers
Boeing Co. (BA) $71.03 -2.55%
Intel Corp. (INTC) $23.67 -2.15%
3M Co. (MMM) $91.26 -1.68%
Cisco Systems Inc. (CSCO) $19.28 -1.43%
Microsoft Corp. (MSFT) $30.52 -1.39%
Coca-Cola Co. (KO) $37.62 -0.74%
General Electric Co. (GE) $21.44 -0.69%
United Technologies Corp. (UTX) $79.03 -0.48%
Wal-Mart Stores Inc. (WMT) $73.57 -0.34%
Walt Disney Co. (DIS) $51.60 -0.27%
Nasdaq 100 - Risers
Expeditors International Of Washington Inc. (EXPD) $38.40 +1.64%
Green Mountain Coffee Roasters Inc. (GMCR) $28.22 +1.40%
Warner Chilcott Plc (WCRX) $13.04 +1.40%
QUALCOMM Inc. (QCOM) $62.49 +0.90%
Amgen Inc. (AMGN) $84.55 +0.70%
Randgold Resources Ltd. Ads (GOLD) $112.08 +0.55%
KLA-Tencor Corp. (KLAC) $52.11 +0.50%
Sandisk Corp. (SNDK) $44.48 +0.50%
Vertex Pharmaceuticals Inc. (VRTX) $57.37 +0.47%
Wynn Resorts Ltd. (WYNN) $103.20 +0.45%
Nasdaq 100 - Fallers
Intel Corp. (INTC) $23.67 -2.15%
Express Scripts Holding Co (ESRX) $61.99 -2.07%
Baidu Inc. (BIDU) $107.44 -1.96%
Celgene Corp. (CELG) $73.98 -1.94%
Electronic Arts Inc. (EA) $13.77 -1.92%
Apollo Group Inc. (APOL) $29.77 -1.72%
Avago Technologies Ltd. (AVGO) $35.58 -1.71%
BMC Software Inc. (BMC) $42.70 -1.45%
Cisco Systems Inc. (CSCO) $19.28 -1.43%
Monster Beverage Corp (MNST) $57.39 -1.43%
LONDON (SHARECAST) - -S&P 500 trading near 5 year average PE multiple
