Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

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 2016 the year you get RICH!

Latest Headlines

Data analysis from Paris raid on Google will take months, possibly years - prosecutorData analysis from Paris raid on Google will take months, possibly years - prosecutor
PARIS (Reuters) - Analysis of data seized by investigators in last week`s raid of Google`s Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday. D...
China to open e-commerce, other sectors to foreign investment - newspaperChina to open e-commerce, other sectors to foreign investment - newspaper
SHANGHAI (Reuters) - China will lift restrictions to investments by foreign firms in a range of service industry sectors, including e-commerce, logistics, accounting and auditing, the China Securities...
EU member states should stress-test banks' cyber risks -European Banking Authority chairmanEU member states should stress-test banks' cyber risks -European Banking Authority chairman
BEIJING (Reuters) - Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top E.U. supervisor said, warning banks might be required to...

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.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

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

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More