?
The Dow Jones Industrial Average (^DJI) is trading up 246.24 points (1.91%) at 13,125.12 as of 12:11 p.m. EDT, putting it on its way to snap a four-day losing streak. That?s a 7.33% rise on the year to date and a 10.33% increase from the index?s value a year ago.
?
All 30 Dow components are up in intraday trading. Leading the surge is Kraft Foods (KFT), up 3.98% (+1.55) at $40.49. The company reported second-quarter profit of $0.68 a share on Thursday, which beat analyst estimates by $0.02. Hewlett-Packard (HPQ) is another high-flyer, up more than 4%. The PC maker will have to gain a lot more to make up for lost ground though ? it is still the Dow?s greatest decliner of the year, having fallen 29% thus far.
?
Underwhelming in the wake of the broad rally are McDonald?s (MCD) and Verizon (VZ). The fast food company is up a tiny 0.33%, while Verizon has also increased by 0.47%. A new Forbes report finds that the telecommunications company has spent some $1.8 million in political donations this year, with 58% going to Republicans and 42% to Democrats.
?
The outlook for the rest of 2012 continues to be rocky, despite today?s good news.
?
?We continue to expect growth to slow in the second half of the year as the uncertainty shock from the fiscal cliff weighs on corporate investment,? Michelle Meyer, senior US economist at Bank of America Merrill Lynch, told the Wall Street Journal.? ?This should ultimately trigger additional Fed easing, in our view. That said, today?s report may have bought the Fed some time.?
Twitter:?@sterlingwong
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
will rogers ohio university ohio university keystone xl pipeline idaho potato bowl cagayan de oro cagayan de oro
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.