US Stocks Rise, DJIA Heads For Longest Weekly Win Streak Since April
14 Outubro 2011 - 3:44PM
Dow Jones News
U.S. stocks rose Friday, setting up the Dow Jones Industrial
Average for its longest weekly winning streak in six months and the
Nasdaq Composite's biggest weekly percentage gain since
mid-2009.
The Dow Jones Industrial Average was up 113 points, or 1%, at
11591 recently. The measure moved into positive territory for the
year in early trading and is also set up for its biggest weekly
point and percentage gain in about a month. The measure hasn't
strung together three straight weekly gains since the three-week
period ending April 8.
The Standard & Poor's 500-stock index gained 15 points, or
1.2%, to 1218, with energy, material and technology stocks in the
lead. The Nasdaq Composite advanced 33 points, or 1.3%, to 2653,
pushing into positive territory for the year and heading for a
weekly gain that would also be its largest in point terms since
October 2008.
Investors digested mostly positive mix of economic data. The
Thomson Reuters/University of Michigan consumer sentiment index for
early October fell unexpectedly and undershot economists'
forecasts, but retail sales data was strong. Stellar results from
Google helped set the positive tone in technology stocks.
"You've got this dichotomy. The big-picture bad news still
exists. But you've got earnings underway and technology continues
to come in positively," said Jenkins Marshall, managing director at
Knight Capital. "The rubber band is very stretched to the
upside."
Investors continued to dial down their fear of Europe's
sovereign-debt crisis. There was optimism over a weekend meeting of
the finance officials from the world's leading economies, which
helped offset the Standard & Poor's downgrade of Spain and
Fitch Ratings' negative outlook on several banks.
"Not every chapter has been written on the European
sovereign-debt crisis [but] it feels like the market is starting to
get comfortable," said Jason Lilly, director of portfolio
management at Rockland Trust.
Google jumped 5.8% after the online search giant reported
third-quarter earnings that beat expectations by a wide margin.
Revenue also topped forecasts as online ad sales accelerated.
In other corporate news, Apple gained 2.7% as the latest version
of the iPhone, the iPhone 4s, arrives at retail stores on
Friday.
J.B. Hunt Transport Services added 7.7%. The trucking company's
third-quarter profit rose 32% and revenue grew across the board,
with particular strength in the company's intermodal division.
Mattel shed 1.2% after the toy maker reported third-quarter
earnings that met estimates but showed a disappointing decline in
gross margins. The company also boosted its share repurchase
program by $500 million.
Microchip Technology lost 5.4%, and was the weakest stock in the
S&P 500, after the company indicated fiscal second-quarter
earnings and revenue would fall short of previous forecasts.
-By Brendan Conway, Dow Jones Newswires; (212) 416-2670;
brendan.conway@dowjones.com
Mattel (NASDAQ:MAT)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Mattel (NASDAQ:MAT)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024