Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Extend Rally, Sentiment Boosted By String of Upbeat Economic Data

Friday, February 1, 2013 1:17 PM
U.S. stocks continued to held firm gains by midday trade on Friday as string of upbeat U.S. economic data increased investors’ risk appetite at a time when most Wall Street’s bigwigs have handed in better than expected quarterly results in the ongoing earnings season thus far. Nevertheless, the outlook provided by most of the companies for fiscal 2013 remains cautious due to policy stalemate in Washington over the debt ceiling issue and spending cuts. At last check, the Dow Jones Industrial Average Index climbed 1.01%; the NASDAQ Composite Index jumped 1.09% while the S&P 500 Index gained 0.98%. The Thomson Reuters/University of Michigan's final reading on the overall consumer sentiment climbed to 73.8 from 72.9 in December, beating economists’ expectation for 71.5. A separate data provided by the Commerce Department showed that construction spending increased 0.9 percent to an annual rate of $885 billion in December, beating economist forecast for 0.6% rise. The Institute for Supply Management (ISM) said that its national factory activity index edged higher to 53.1 from 50.2 in December, comfortably above analysts’ consensus forecast of 50.6. A reading over 50 signifies economic expansion. Earlier today a data provided by the Labor Department showed that employers hired at steady pace in January. Non-farm payrolls climbed by 157,000 in January, which were tad lower than economists’ forecast for 160,000 new job additions. Shares of Audience (NASDAQ: ADNC) rallied more than 20% by midday trade on Friday after the smartphone audio processing technology company reported better-than-expected fourth-quarter earnings and said that it will post profit in the current quarter while analysts were expecting it to report losses. Shares of Tyson Foods (NYSE: TSN)  gained nearly 3% by midday trade after the meat processor’s quarterly earnings edged past Street’s estimate even though revenue fell a tad short of analysts’ expectation. Shares of Life Time Fitness (NYSE: LTM) slumped nearly 21% by midday trading session after the company warned that fourth-quarter earnings and revenue would not match Street’s forecast. The Company attributed lower membership and high operating expenses for the lackluster outlook. Elsewhere in Europe, most leading benchmark indexes ended higher as sentiment was boosted by solid economic data from the U.S. The Stoxx 600 gained 0.34%, FTSE 100 climbed 1.12% while DAX edged up 0.74%.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Police probe political funding of mining magnate Clive Palmer: The AustralianPolice probe political funding of mining magnate Clive Palmer: The Australian
SYDNEY (Reuters) - Australian police are investigating allegations about the misuse of A$12 million ($10.5 million) in Chinese funds during the 2013 political campaign of mining magnate Clive Palmer, ...
Fund boards, management go on high alert around bond liquidityFund boards, management go on high alert around bond liquidity
NEW YORK (Reuters) - U.S. fund firms are taking extra measures to make sure they don`t get stuck holding hard-to-sell bonds in the event that fixed income markets see a massive race to the exits whe...
China stocks rise after surprise rate cut, yuan dropsChina stocks rise after surprise rate cut, yuan drops
HONG KONG/SHANGHAI (Reuters) - Chinese stock rose, with a key index hitting a three-year high, while bond yields fell on Monday, as markets cheered a surprise rate cut that investors hope may signal...
Exclusive: China ready to cut rates again on fears of deflation - sourcesExclusive: China ready to cut rates again on fears of deflation - sources
BEIJING (Reuters) - China`s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaul...
China's benchmark money rate falls 48 bps after surprise easingChina's benchmark money rate falls 48 bps after surprise easing
SHANGHAI (Reuters) - China`s benchmark money rate fell 48 basis points to 3.18 percent on Monday, after the central bank unexpectedly cut benchmark lending rates by 40 basis points on Friday. The se...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals