dow closes above 13000 for the first time in four years
Last Updated : GMT 09:35:27
Arab Today, arab today
Arab Today, arab today

Dow closes above 13,000 for the first time in four years

Arab Today, arab today

Arab Today, arab today Dow closes above 13,000 for the first time in four years

New York - Arabstoday

Stocks advanced Tuesday, lifting the Dow Jones industrial average to its first close above 13,000 in nearly four years, as investors were buoyed by strong U.S. consumer confidence data. The Dow broke through 13,000 several times last week, but it hasn\'t closed above that level since May 19, 2008 -- months before the onset of the financial crisis and the collapse of Lehman Brothers. Stocks opened the session flat after data showed orders for long-lasting goods had the biggest fall in three years and dented optimism about the pace of the domestic recovery. But stocks managed to gain some traction after the Conference Board said consumer confidence in the world\'s largest economy jumped to a one-year high in February. The reading carries weight as consumer spending accounts for more than two-thirds of U.S. economic activity. \"They are focusing on the positive and eliminating the negative reports, which I am very interested in because durable goods was tough - it was a big miss,\" said Ken Polcari, managing director of ICAP Equities in New York. \"So there is a lot going on, but the fact is, those couple of reports that came out today are clearly conflicted, clearly mixed. So once again, we are kind of stuck in the middle.\" The S&P 500 ticked above 1,370, but some analysts have cautioned the rally this year has occurred on light volume, leaving the market susceptible to a pullback. Still, a close above 1,370 could invite momentum buying as money managers chase performance. Technology shares ranked among the best performers, with Micron Technology Inc up after Intel Corp said it will sell its stake in two wafer factories to Micron and buy chips from the company. Apple’s share price jumped 10 percent to $535 after the company said it is hosting a media event next week where it is expected to unveil the latest version of its popular iPad tablet as it looks to thwart increasing competition from deep-pocketed rivals such as Amazon Inc. Retailers got a lift from the earnings of Office Depot Inc and AutoZone Inc. With earnings season drawing to a close, 472 of the S&P 500 components have reported results through Tuesday morning. About 63 percent beat analysts\' expectations, below the average 70 percent beat rate in the last four quarters, but slightly above the average of 62 percent since 1994. Europe\'s banks were expected to take in another half trillion euros in cheap three-year loans offered by the ECB on Wednesday in a bid to inject liquidity into the fragile banking system. Oil fell for a second straight session, halting a surge that has threatened to hurt the global economy. Equity investors remained wary over persistent supply worries from the Middle East, but improving economic news has continued to play a key role in driving the U.S. equities market.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dow closes above 13000 for the first time in four years dow closes above 13000 for the first time in four years

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dow closes above 13000 for the first time in four years dow closes above 13000 for the first time in four years

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday