By Rudi Filapek-Vandyck
US equities resumed their steady rise in overnight trade. The DJIA gained 69.07 points to close at 13,323.36. The world's best known share index is now within 6% of its all-time high of 14,164.53 reached in October 2007. The more representative S&P500 rose 4.48 points to 1433.56, but the Nasdaq barely managed a gain of 0.51 points, as Apple failed to join the party. Apple's shares slipped another 0.53% to US$659.21 last night.
Behind those numbers, and as reported in yesterday's Overnight Report, lies a steady portfolio switch out of utilities, consumer staples and other outperformers from the past into under-owned energy, miners, cyclical industrials and financials. Also out were luxury goods and high end consumer stocks after Britain's largest luxury- goods maker Burberry issued a stern