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US Markets
US Markets reversed early losses to finish higher yesterday with all three of the major indices finishing higher and showing major gains for the month. These gains come despite weaker than expected economic data. The Dow Jones (DJIA)has seen 5 straight months of gains making this the best start in 4 years. Both the S&P and NASDAQ have 6 month long winning streaks.
Google Finance DJIA 6 month Chart
Among yesterday’s biggest winners were IBM, Microsoft and Pfizer took a beating. For the month, we saw the telecom and utilities sector outperform while Energy and Industrial sectors lagged for the quarter. Pfizer’s shares tumbled as the company reported weaker than expected Q1 results. They cited a strong US dollar hurt exports and the company lowered their full year outlook. Read full article