us stocks ride strong results
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

US stocks ride strong results

Arab Today, arab today

Arab Today, arab today US stocks ride strong results

New York - AP

Stronger profits from Microsoft, McDonald\'s and other major US corporations pushed stocks higher on Friday. Optimism from Europe helped brighten the mood. The Dow Jones industrial average and the Standard & Poor\'s 500 index had a winning week for the first time this month. \"There\'s been a wrestling match all week long between strong earnings and weak economic data,\" said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. \"At the moment, earnings are winning.\" Before the market opened, McDonald\'s posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald\'s\' biggest market, despite economic turmoil and severe weather. Microsoft beat analysts\' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion (Dh11 billion), helped by orders for locomotives, aircraft engines and other equipment. The Dow rose 65.16 points to close at 13,029.26. The S&P 500 added 1.61 points to 1,378.53 orporate earnings results have provided a pleasant surprise, said Sam Stovall, chief equity strategist at S&P Capital IQ. After nine straight quarters of growth, earnings for S&P 500 companies were expected to be nearly flat. But eight of every 10 companies that have reported so far, including Coca-Cola and IBM, have beaten estimates. As a result, first-quarter earnings are now projected to rise 4.4 per cent, according to S&P. In Europe, Germany\'s DAX rose 1.2 per cent, and stock indexes in France and Spain were higher. A closely watched survey in Germany, the continent\'s economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline. In other US trading, Apple sank 2.5 per cent, helping to tug the Nasdaq composite index down 7.11 points to 3,000.45. Apple, the most valuable company in the world, accounts for 12 per cent of the Nasdaq. The Dow gained 1.4 per cent last week, and the S&P 500 index 0.6 per cent. But it wasn\'t a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month. Then worries about Eur-ope came storming back. Markets reversed course on Wednesday, after the Bank of Spain said that the amount of bad loans held by Spanish banks rose to an 18-year high. If those banks falter, it would put pressure on Spain\'s already troubled government to prop them up. Weak reports on jobs, housing and manufacturing in the US added to the selling pressure, and the Dow slumped 151 points in two days. \"It\'s been like the weather here in upstate New York — unpredictable,\" Creatura said. \"One day is up, the next day is down.\" The encouraging news out of Germany helped drive oil prices up Friday. Benchmark US crude rose 78 cents to finish at $103.05 per barrel in New York. Brent crude, widely used by US refiners to produce gasoline, added 76 cents to $118.76 in London. Oil services giant Schlumberger Ltd. rose 3 per cent. The company\'s quarterly profits jumped almost 38 per cent as strong drilling activity in the Gulf of Mexico and the Middle East offset a slowdown in North America\'s natural gas fields. Schlumberger said that world oil demand appears to have \"stabil-ised\" and that the risk of a double-dip recession has declined. E-Trade Financial Corp. jumped 6 per cent, the largest gain in the S&P 500. The online broker reported a 40 per cent jump in first-quarter profit after the close of trading Thursday, beating Wall Street estimates. SanDisk Corp. plummeted 11 per cent, the S&P\'s biggest loser. The flash memory maker said on Thursday that weak demand and low prices cut its quarterly profit by nearly half.

arabstoday
arabstoday

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides
Arab Today, arab today
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*

us stocks ride strong results us stocks ride strong results

 



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*

us stocks ride strong results us stocks ride strong results

 



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 Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
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 May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
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 VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
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 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

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 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

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