U.S. stocks rallied Tuesday, lifting the three benchmark indexes to 2011 highs, as investors embraced results from Ford Motor Co., United Parcel Service Inc., 3M Co. and others.
“Revenues and earnings for nonfinancial companies have reached record levels, helped by international exposure for many S&P 500 reporting companies,” said Fred Dickson, chief investment strategist at Davidson Cos.
FED FACTOR
Stocks retained the bulk of their gains after a monthly survey showed consumer confidence rising more than expected in April as worries about inflation and employment eased. Read more about the Conference Board report.
“A still-improving labor market seems to be offsetting the rise in gasoline and food prices for now in terms of consumer psyche, as the confidence level is the second best since early ’08,” wrote Miller Tabak equity strategist Peter Boockvar.
Before the opening bell, another survey had U.S. home prices falling for an eighth straight month. Read more about on home prices falling, according to Case-Shiller index.
On Wednesday, the Federal Open Market Committee will conclude its two-day meeting on monetary policy, with Fed Chairman Ben Bernanke presiding over the first-ever news conference following the policy statement, slated for 2:15 p.m. Eastern.
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 12,595.37 |
|---|---|
| Trade Time: | 4:01PM EDT |
| Change: |  115.49 (0.93%) |
| Prev Close: | 12,479.88 |
|---|---|
| Open: | 12,480.86 |
| Day's Range: | 12,478.14 -12,613.16 |
| 52wk Range: | 9,596.04 -12,652.20 |
No comments:
Post a Comment
Please remember...your comment should not contain nudity or vulger language in addition to advertisement of your blog/site or any product ...and should not hurt the readers emotions...if that will be case it will be removed on first review of admin staff... Regards