Stock Market News
US close: Stocks finish moderately higher
22-08-2011 21:38
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After four weeks of losses on Wall Street, US stocks reported moderate gains on Monday, as economic news was thin on the ground, giving nervous investors few reasons for another big sell-off.
The Dow finished 37 higher at 10,855, the Nasdaq rose 4 to 2,345, while the &P 500 was flat at 1,123.
The Federal Reserve Bank of Chicago's national activity index - designed to gauge overall economic activity and related inflation pressure - rose to -0.06 in July, up from -0.38 the month before.
Meanwhile, traders were speculating that the Federal Reserve may unveil further measures to kick-start the world's biggest economy. Chairman Ben Bernanke will be making a speech at the central bank's annual meeting on Friday.
Oil stocks performed well as investors showed their optimism on speculation the apparent end of the Libyan civil war will pave the way for a recovery in production. Marathon Oil, Eni SpA, Royal Dutch Shell and Total all finished higher.
Hewlett-Packard recovered slightly after Friday's sell-off, which saw the company lose over 20% of its market value on the back of fears about the company's future post-restructuring. The firm also had its rating upped by Auriga analyst Kevin Hunt from hold to buy.
Telecoms titan Verizon Communications finished higher after union workers went back to work following a two-week strike.
Bank of America was also out of favour after Wells Fargo cut its target price for the company. JP Morgan Chase also finished under.
Home improvement retailer Lowe's was made gains after saying it plans to buy back $5bn of shares.
BC
S&P 500 - Risers
Autodesk Inc. (ADSK) $24.49 +4.63%
Newmont Mining Corp. (NEM) $62.86 +4.63%
Big Lots Inc. (BIG) $31.35 +4.19%
S&P 500 - Fallers
Eastman Kodak Co. (EK) $2.78 -8.55%
Bank of America Corp. (BAC) $6.42 -7.89%
Goldman Sachs Group Inc. (GS) $106.51 -4.70%
Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $24.45 +3.60%
AT&T Inc. (T) $28.45 +1.64%
Boeing Co. (BA) $58.43 +1.55%
Dow Jones I.A - Fallers
Bank of America Corp. (BAC) $6.42 -7.89%
JP Morgan Chase & Co. (JPM) $33.41 -2.74%
Travelers Company Inc. (TRV) $49.12 -0.69%
Nasdaq 100 - Risers
Autodesk Inc. (ADSK) $24.49 +4.63%
Urban Outfitters Inc. (URBN) $27.03 +4.16%
Citrix Systems Inc. (CTXS) $52.38 +4.11%
Nasdaq 100 - Fallers
Intuitive Surgical Inc. (ISRG) $321.73 -2.35%
Joy Global Inc. (JOYG) $69.63 -2.33%
Vertex Pharmaceuticals Inc. (VRTX) $45.77 -1.55%
The Dow finished 37 higher at 10,855, the Nasdaq rose 4 to 2,345, while the &P 500 was flat at 1,123.
The Federal Reserve Bank of Chicago's national activity index - designed to gauge overall economic activity and related inflation pressure - rose to -0.06 in July, up from -0.38 the month before.
Meanwhile, traders were speculating that the Federal Reserve may unveil further measures to kick-start the world's biggest economy. Chairman Ben Bernanke will be making a speech at the central bank's annual meeting on Friday.
Oil stocks performed well as investors showed their optimism on speculation the apparent end of the Libyan civil war will pave the way for a recovery in production. Marathon Oil, Eni SpA, Royal Dutch Shell and Total all finished higher.
Hewlett-Packard recovered slightly after Friday's sell-off, which saw the company lose over 20% of its market value on the back of fears about the company's future post-restructuring. The firm also had its rating upped by Auriga analyst Kevin Hunt from hold to buy.
Telecoms titan Verizon Communications finished higher after union workers went back to work following a two-week strike.
Bank of America was also out of favour after Wells Fargo cut its target price for the company. JP Morgan Chase also finished under.
Home improvement retailer Lowe's was made gains after saying it plans to buy back $5bn of shares.
BC
S&P 500 - Risers
Autodesk Inc. (ADSK) $24.49 +4.63%
Newmont Mining Corp. (NEM) $62.86 +4.63%
Big Lots Inc. (BIG) $31.35 +4.19%
S&P 500 - Fallers
Eastman Kodak Co. (EK) $2.78 -8.55%
Bank of America Corp. (BAC) $6.42 -7.89%
Goldman Sachs Group Inc. (GS) $106.51 -4.70%
Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $24.45 +3.60%
AT&T Inc. (T) $28.45 +1.64%
Boeing Co. (BA) $58.43 +1.55%
Dow Jones I.A - Fallers
Bank of America Corp. (BAC) $6.42 -7.89%
JP Morgan Chase & Co. (JPM) $33.41 -2.74%
Travelers Company Inc. (TRV) $49.12 -0.69%
Nasdaq 100 - Risers
Autodesk Inc. (ADSK) $24.49 +4.63%
Urban Outfitters Inc. (URBN) $27.03 +4.16%
Citrix Systems Inc. (CTXS) $52.38 +4.11%
Nasdaq 100 - Fallers
Intuitive Surgical Inc. (ISRG) $321.73 -2.35%
Joy Global Inc. (JOYG) $69.63 -2.33%
Vertex Pharmaceuticals Inc. (VRTX) $45.77 -1.55%
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