Stocks Rebound in Late Trading; Manufacturing Drops in April (AAPL, P)

On Monday it was reported that manufacturing activity in the US unexpectedly slowed down to a level not seen in four years. It was the first time the sector contracted since last November. Investors continue to analyze economic indicators in order to speculate if the Fed will keep up its bond purchases or not. In corporate news, Apple (AAPL) signed a deal with Warner Music Group for a streaming music service, causing competitor Pandora Media (P) to tumble. Merck & Co. (MRK) was a leader for the S&P and advanced 4.5%.
Despite it being highly criticized, what analysts refer to as the "Hindenburg Omen" has recently come into discussion after several market conditions were met last week.

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Published on Jun 3, 2013
By InvestorGuide Staff

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