Arab Today, arab today us stocks surge on oil rally fed afterglow
Last Updated : GMT 12:25:25
Arab Today, arab today
Arab Today, arab today

US stocks surge on oil rally, Fed afterglow

Arab Today, arab today

Arab Today, arab today US stocks surge on oil rally, Fed afterglow

Wall Street
New York - AFP

US stocks powered higher in early trade Thursday, joining a surge in European markets amid rising oil prices and improved sentiment following Wednesday's Federal Reserve meeting.
About 30 minutes into trade, the Dow Jones Industrial Average stood at 17,605.59, up 248.72 points (1.43 percent).
The broad-based S&P 500 jumped 29.32 (1.46 percent) to 2,042.21, while the tech-rich Nasdaq Composite Index gained 66.72 (1.44 percent) to 4,711.04.
Equity markets took heart from a rise in oil prices after Saudi Arabia's petroleum minister described the recent retreat in prices as temporary. Stock markets in Britain, France and Germany were all up at least 1.5 percent.
Analysts said spirits were also lifted by the outcome Wednesday of the Fed's two-day monetary policy meeting, which stoked talk of a "Santa Claus rally."
The US central bank left in place market expectations that it may raise interest rates only in the middle of 2015 and not sooner, and gave a fairly upbeat assessment of the economy.
Wall Street stocks rallied sharply after the Fed announcement, with the S&P 500 soaring 2.04 percent, its best one-day gain of the year.
Petroleum-oriented stocks rose, including Dow component Chevron (+1.1 percent), oil-services company Halliburton (+1.5 percent) and Marathon Oil (+4.2 percent), which announced that it would cut its 2015 capital budget by about 20 percent in the wake of lower crude prices.
Information-technology giant Oracle bolted 8.8 percent higher as second-quarter earnings translated into 69 cents per share, a cent above analyst expectations.
Consulting company Accenture jumped 5.6 percent after earnings for fiscal first-quarter 2015 rose 11 percent to $831.5 million.
Biotech company Amgen advanced 1.4 percent following news it will lift its first-quarter dividend by 30 percent in 2015.
Drugstore chain Rite Aid soared 10.2 percent as it raised its profit forecast after reporting that same-store sales jumped 5.4 percent in the third quarter.
Packaged food company ConAgra sank 5.0 percent on news that second-quarter net income shrank to $10 million from $248.7 million in the year-ago period following a large charge in its private brands segment, which includes snacks, pasta and retail bakery goods.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.21 percent from 2.15 percent Wednesday, while the 30-year advanced to 2.81 percent from 2.75 percent. Bond yields and prices 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 us stocks surge on oil rally fed afterglow Arab Today, arab today us stocks surge on oil rally fed afterglow

 



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 us stocks surge on oil rally fed afterglow Arab Today, arab today us stocks surge on oil rally fed afterglow

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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