Arab Today, arab today dow soars to highest level in more than 5 years
Last Updated : GMT 05:12:11
Arab Today, arab today
Arab Today, arab today

Dow soars to highest level in more than 5 years

Arab Today, arab today

Arab Today, arab today Dow soars to highest level in more than 5 years

New York - AFP

Strong reports on the US housing market and durable goods orders propelled stocks higher Wednesday, with the much-watched Dow index reaching its highest level in more than five years. The Dow Jones Industrial Average rose 175.24 (1.26 percent) to 14,075.37, reaching its best finish since October 12, 2007. The broad-based S&P 500 rose 19.05 (1.27 percent) to 1,515.99, while the tech-rich Nasdaq Composite Index jumped 32.61 (1.04 percent) to 3,162.26. The gains came after reports showed US pending home sales rebounded sharply in January to the highest level in almost three years. Also, durable goods orders in January, excluding volatile aircraft, surged 1.9 percent, with gains particularly strong in capital goods, suggesting business confidence in the economy in upcoming months. Hugh Johnson of Hugh Johnson Advisers, said markets were also cheered by comments from Federal Reserve Chairman Ben Bernanke and European Central Bank President Mario Draghi that suggested accomodative monetary policy would remain in force on both sides of the Atlantic for the foreseeable future. The market has also begun to conclude that mandatory US spending cuts due to take effect Friday \"does not mean the end of the world,\" Johnson said. \"The recognition is that the economy will continue to expand in 2013 and 2014.\" All but one of the blue-chip companies in the Dow Jones index closed the day higher. Among the biggest gainers were JPMorgan Chase, which rose 3.5 percent after announcing it would trim 19,000 jobs by the end of 2014. Also gaining was aerospace giant Boeing (up 2.3 percent), industrial giant Caterpillar (up 2.6 percent) and technology giant Microsoft (up 1.6 percent). Travel website Priceline.com picked up 2.8 percent after reporting significantly higher profits than a year ago. Upscale handbag maker Coach jumped 2.8 percent on speculation that the company could be an acquisition target. Target declined 1.5 percent despite reporting earnings that bested analyst expectations. However, the market reacted to comments that the company faces \"a highly promotional retail environment and continued consumer uncertainty.\" Bond prices fell. The yield on the 10-year bond rose to 1.90 percent from 1.88 percent late Tuesday, while the 30-year rose to 3.10 percent from 3.08 percent. Bond prices and yields move inversely.

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*

Arab Today, arab today dow soars to highest level in more than 5 years Arab Today, arab today dow soars to highest level in more than 5 years

 



Arab Today, arab today

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 soars to highest level in more than 5 years Arab Today, arab today dow soars to highest level in more than 5 years

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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