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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Off to a Flying Start

Monday, November 19, 2012 11:15 AM
U.S. stocks edged higher during early trading session on Monday as investors were upbeat following reassuring remarks from President Obama with regard to congressional negotiations over the issue of ‘fiscal cliff’ while strong quarterly earnings from Lowe’s Companies Inc. (NYSE: LOW) also cheered the Wall Street as  it reemphasized gradual recovery in the housing market. About 30 minutes after the morning bell, the Dow Jones Industrial Average Index climbed 1.19%; the Nasdaq Composite Index jumped 1.36% while the S&P 500 Index leaped 1.47% The market sentiment improved significantly on Monday following President Obama’s remarks in a press conference. In his first foreign trip after being reelected as the President, Mr. Obama while addressing a news conference in Bangkok on Sunday said that “I am confident we can get our fiscal situation dealt with.” The statement follows just after the first round of negotiations on Friday, which congressional leaders described it as “constructive”. Market participants are just starting to get a glimmer of hope that congressional leaders will be able to avert the ‘fiscal cliff’ or series of  automatic spending cuts and tax increases from 2013, estimated at $600 billion, which can potentially throw the U.S. economy into recession. On earnings front, world’s second largest home improvement retailer, Lowe’s edged up on Monday after the company reported 76% jump in fiscal third quarter profits while revenue also beat analysts’’ consensual estimate. The company also upwardly revised its outlook on same-stores-sales for the current quarter to 1% compared to earlier estimation of 0.5%. Tyson Foods Inc. (NYSE: TSN) also rallied after the food production company reported that fiscal fourth quarter profits which nearly doubled to $185 million or 51 cents a share, from $97 million or 26 cents a share, in the year earlier quarter. In Europe equities continued to trade in green territory as investors took a sigh of relief following the remarks from Obama. The Pan European Stoxx 600 gained 1.72%, at last check.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Nissan to brief on abnormal deployment of Takata air bag, shares sinkNissan to brief on abnormal deployment of Takata air bag, shares sink
TOKYO (Reuters) - Shares in Nissan Motor Co fell more than 6 percent in early afternoon trade on Wednesday after the company said it would brief the media about an abnormal deployment of an air bag ma...
China stocks nosedive despite fresh regulator supportChina stocks nosedive despite fresh regulator support
SHANGHAI (Reuters) - Chinese stock markets tumbled again on Wednesday as investors shrugged off a series of support measures by Chinese regulators, including the central bank`s first public statement ...
China stocks tumble as regulator warns of 'panic'China stocks tumble as regulator warns of 'panic'
SHANGHAI (Reuters) - Chinese stocks dived on Wednesday after the securities regulator said the tumbling stock market in the world`s second-biggest economy was in the grip of "panic sentiment" as inv...
AirAsia shares sink to five-year low on threat of suspension at Indonesia unitAirAsia shares sink to five-year low on threat of suspension at Indonesia unit
KUALA LUMPUR (Reuters) - Shares in budget carrier AirAsia Bhd tumbled more than 8 percent to a five-year low on Wednesday on investor concerns that it may miss a deadline to raise equity in its Indone...
Shares of AirAsia fall 1.3 percent after suspension threat to Indonesian unitShares of AirAsia fall 1.3 percent after suspension threat to Indonesian unit
KUALA LUMPUR (Reuters) - Shares of AirAsia Bhd <AIRA.KL> fell as much as 1.3 percent in early trade on Wednesday after Indonesia threatened to suspend the operating license of its unit there unl...

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.