In this bulletin: Late rally lifted both the S&P500 and Nasdaq to fresh record closing highs after investors' initial reaction to the solid April jobs report was muted - Dow up +55-points or +0.26% (and back above >21,000), S&P500 +0.41% (with Energy leading nine sectors higher, with Financial lagging), NASDAQ +0.42%. All three benchmark indices posted modest weekly gains after trading in a narrow range for much of the week - Dow up +0.32% for the week, S&P500 +0.63% and the Nasdaq +0.88%. IBM (down -2.51%) was the biggest decliner on the Dow after Warren Buffet said in an interview that he had sold around a third of his position in the company and said that he did not "value IBM the same way that I did six years ago when I started buying." Morgans AM is an overnight share market summary and economic news from across the globe, covering the US and Europe, as well as commodity prices and exchange rates.
