May 25, 2013
Global shares end mixed after rally
The S&P 500 eased slightly today after an eight-day run of gains, its longest winning streak in eight years, while the Nasdaq edged higher as Apple shares rebounded.
In addition to the Fed's two-day policy meeting on Tuesday and Wednesday and the GDP data, investors are awaiting the government's January labor market report on Friday.
The Dow Jones industrial average dropped 12.98 points, or 0.09 percent, to 13,883.00. The Standard & Poor's 500 Index dropped 2.71 points, or 0.18 percent, to 1,500.25. The Nasdaq Composite Index gained 4.59 points, or 0.15 percent, to 3,154.30.
European equities touched fresh multi-month peaks today, with technical charts pointing to a continued slow grind higher backed by tentative signs of improvement in the global economy and corporate earnings.
The Euro STOXX 50 closed 0.1 percent higher at 2,746.22 points, setting fresh 18-month peaks in the wake of stronger-than-expected US durable goods orders showing firms in the world's biggest economy had stepped up spending.
The FTSEurofirst 300 was down 0.1 percent at 1,173.77 points after touching a two-year intra-day peak of 1,176.19 plans.
In Asian markets, Japan's Nikkei share average dropped today as investors took profit on exporters as they awaited further cues from corporate earnings after the index briefly pierced a fresh 32-month high above 11,000 in early trade.
The Nikkei fell 0.9 percent to 10,824.31 after initially leaping to 11,002.86 as interest in Japanese exporters was fanned as the yen dropped to 91 versus the dollar, promising higher overseas revenues once they are repatriated.