Monthly Archives: January 2014

Tech shares lead equities higher; S&P 500 posts best day of the year

Equities rebounded after Monday’s broad-based sell-off with the S&P 500 higher by +1.08% as technology outperformed; all ten sectors ended the day in the green. The SPX had its best day this year as better than anticipated retail sales and M&A activity signaled confidence in the economy. Treasuries closed on the lows as steady selling persisted throughout the session, led by the belly of the curve; fives added +5.8bps to 1.647% and tens were at 2.87% after testing the 50 DMA overnight.