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

Refining helps BP and Total weather oil price stormRefining helps BP and Total weather oil price storm
LONDON/PARIS (Reuters) - BP and Total reported higher than expected profits on Tuesday thanks to steep increases in profits from refining, showing the resilience of global oil firms in the face of s...
Tyson Foods plans to cut human antibiotics in U.S. chicken flocks by 2017Tyson Foods plans to cut human antibiotics in U.S. chicken flocks by 2017
CHICAGO (Reuters) - Tyson Foods Inc, the largest U.S. poultry producer, plans to eliminate the use of human antibiotics in its chicken flocks by September 2017 - one of the most aggressive timelines...
Deutsche co-CEO Fitschen on trial over Kirch case Deutsche co-CEO Fitschen on trial over Kirch case
MUNICH (Reuters) - Deutsche Bank co-chief executive Juergen Fitschen went on trial on Tuesday accused of giving misleading evidence in connection with the collapse of the Kirch media empire in a cas...
Greek team reshuffle could help talks with lenders: NoyerGreek team reshuffle could help talks with lenders: Noyer
PARIS (Reuters) - A reshuffle of Greece`s team handling talks with European and IMF lenders, widely seen as an effort to relegate Finance Minister Yanis Varoufakis, could help discussions, Bank of Fra...
Tsipras presses for early Greek debt deal but flags referendum Tsipras presses for early Greek debt deal but flags referendum
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras said on Tuesday he was confident of an early deal with international creditors, after shaking up his negotiating team and sidelining his outspo...

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 Futures Day Trading System S&P + Crude Oil Signals
Autotrading Autotrade Stocks Try for Free!