Apple led the recovery on Wall Street - Business World

After starting the session in the red rebounded as U.S. stocks on Tuesday, bringing the index to slightly higher levels at closing. On the company front, ran Apple’s stock after the declaration of the billionaire Carl Icahn built up a shareholding in the company.

Dow Jones Industrial Average closed up 0.2 percent on the index level 15451 , while the broader S & P 500 step 0 , 3 percent to 1694 . Technology Frequent Nasdaq composite was simultaneously 0.4 percent higher 3684 . Sales were 600 one million shares on the New York Stock Exchange and 1.6 billion on the Nasdaq.

On the macro front, figures showed that U.S. retail sales rose for the fourth month in a row, with 0.2 percent in July from the previous month. The outcome was just below the increase in sales of 0.3 percent was expected by analysts in the Bloomberg News survey forecast.

“I do not think we will have some furious recovery in the near future, but the economy seems to improve, slowly but surely, and I think this has sunk in at last, “said the fund manager John Carey at Pioneer Investment, told Bloomberg News.

The regional Fed chief for Atlanta, Dennis Lockhart said In a speech on Tuesday that economic data have been uneven and that a reduction of bond purchases may begin at any of the next three policy meetings.

“The consensus is that we get a reduction in September and I do not think anything we seen today has changed the thought process, whether in Lockhart or retail sales., we are on standby., it is pretty quiet with few innovations that can put markets in motion, “said Gary Flam, portfolio strategist at Bel Air Investment Advisors in Los Angeles, in an interview with Bloomberg News.

Among individual stocks strengthened Apple in the Nasdaq after Carl Icahn announced that he believes Apple will be “extremely undervalued” and that he therefore created a “great position” in the company. The share, which before the news was up 1.7 percent, closing at plus 5 percent.

Pharmaceutical company Eli Lilly rose simultaneously 1.7 percent. The company announced on Tuesday the successful results of a study of its cancer drugs Necitumumab. The company expects to present results from further studies of the U.S. drug authorities in late 2014 . According to Mark Schoenebaum, an analyst at ISI Group, the market had “basically zero” expectations Necitumumab. According to a customer letter that Bloomberg News has taken note of.

KFC and Pizza Hut owner Yum Brands comparable sales in China fell 13 per cent in July year on year, a bigger decline than analysts expectations of a decline of 7 percent, after fears of bird flu continued to keep guests away from restaurants. Shares fell 2 percent in Tuesday’s trading.

On the bond market, the interest rate payable on U.S. ten-year government bonds ticked up 9 points to 2.72 percent.