US equities rallied from the off today following comments from the Russian Security Council Secretary that they are seeking to de-escalate the conflict in Ukraine. This theme carried on throughout the session with further support coming from news that Russian military drills on the Ukrainian border were to be halted. Today’s gains marked the largest percentage gain for the DJIA and the S&P 500 since March 4th and as such managed to pull back the losses incurred throughout the week which stemmed from the geopolitical tensions not only in Russia and Ukraine, but also in the Middle East. In stock specific news McDonalds (MCD) reported July global same sales down 2.5% with US and Asia Pacific sales also falling. Monster Beverage (MNST) was one of the best performers in the S&P, following their earnings after market yesterday where they boosted their forecast, alongside GAP (GPS) who released a large beat in their comp sales for July. Finally, the DJIA finished up 1.13% at 16,553.93, the S&P 500 finished up 1.15% at 1931.59 and the NASDAQ-100 finished up 0.79% at 3888.34.
08 Aug 2014 - 21:00 - Equities Geopolitical - Source: RANsquawk
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