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S&P Extends Record as Bank of America Agrees to Settlement (BAC, APO)

By: , dated May 6th, 2013
On Monday the markets mostly advanced and continued their positive rally from last week. The S&P 500 hit another record high and was supported by tech companies and financials. Bank of America (BAC) agreed to a $1.7 billion settlement with insurance company MBIA over a mortgage-backed securities dispute. Apollo Global Management LLC (APO) reported a record Q1 profit that was 72% higher despite market volatility. Apple (AAPL) once again surpassed Exxon Mobile (XOM) as the market leader on Monday. The US dollar continued to gain against the yen and the euro after the recent monthly jobs report.

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