Arab Today, arab today dow closes above 13000 for the first time in four years
Last Updated : GMT 22:01:14
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.

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*

Arab Today, arab today dow closes above 13000 for the first time in four years Arab Today, arab today dow closes above 13000 for the first time in four years

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
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