Home
Investment
News & Views
Company News
news storage
US close: Shares rally despite weak data
Wed, 08 Feb, 2012
INVESTMENT NEWS
Company Search
Search QCK.COM
Investment Home
News & Views
Top Stories
Charting
Company Search
Watchlist
Market Reports
Market Buzz
Company News
Economic News
New Issues
Other News
US close: Shares rally despite weak data
Wed, 25 Aug 2010, 21:42:00
US shares rallied to close higher despite more disappointing US economic data today. Across the markets, the Dow finished 19 points higher at 10,060. Nasdaq added 17 points at 2,141. The S&P 500 gained 3 points to 1,055. Durable-goods orders were up 0.3% in July. Analysts were looking for a 2.7% increase. Even worse, was a 12% decline in annualised sales of new homes. There were annualised sales of new homes of 276,000 in July and that was the lowest since 1963. The median price of $204,000 was the lowest since 2003. Despite the poor data, housebuilders rose on the back of <b>Toll Brothers'</b> swing to a net profit of $27.3m compared with a loss of $472.3m a year earlier. <b>DR Horton</b>, which was upgraded to a buy by Ticonderoga Securities, is the second best performer on the S&P. On the corporate front, <b>AMR</b> fell due to worries about a potential strike at American Airlines. Electronic payment technology developer <b>VeriFone Systems</b> raised its 2010 profit forecast to $1.27 a share - more than 10% higher than previous expectations. <b>Apple</b> is reportedly in talks with major TV companies to offer 99 cent rentals of television episodes, people familiar with the situation told the Wall Street Journal. <b>S&P 500 - Risers</b> Harman International Industries Inc. (HAR) $31.85 +5.53% Sears Holdings Corp. (SHLD) $64.80 +4.87% D. R. Horton Inc. (DHI) $10.43 +4.61% Coventry Health Care Inc. (CVH) $20.27 +4.54% <b>S&P 500 - Fallers</b> Massey Energy Co. (MEE) $29.14 -3.38% Dominion Resources Inc. (D) $43.15 -2.84% Cabot Oil & Gas Corp. (COG) $27.97 -2.48% Peabody Energy Corp. (BTU) $42.23 -2.27% <b>Dow Jones I.A - Risers</b> Home Depot Inc. (HD) $28.33 +1.98% Kraft Foods Inc. (KFT) $29.59 +1.02% Pfizer Inc. (PFE) $15.97 +0.95% McDonald's Corp. (MCD) $73.19 +0.65% <b>Dow Jones I.A - Fallers</b> United Technologies Corp. (UTX) $65.26 -0.61% Caterpillar Inc. (CAT) $64.70 -0.52% Coca-Cola Co. (KO) $55.39 -0.49% Hewlett-Packard Co. (HPQ) $38.24 -0.39%
©2004-2009 QCK.com
