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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Stocks Sharply Higher in Mid-Day Trading

Monday, November 19, 2012 1:54 PM
U.S. stocks held firm in mid-day trading on Monday as investors’ risks appetite increased significantly in the backdrop of growing optimism that congressional leaders will successfully negotiate the issue concerning the fiscal cliff following President Obama’s remarks over the weekend while strong housing sector data also bolstered the sentiment. At last check, the Dow Jones Industrial Average Index gained 1.36%; the Nasdaq Composite Index climbed 1.75% while the S&P 500 Index jumped 1.65%. Most of the key S&P 500 sectors were trading in green territory with stocks belonging to materials and telecom sectors gaining the most while utilities stocks lagged. Market sentiment improved by leaps and bounds since Friday after congressional leaders described first rounds of talks over the fiscal cliff issue as “constructive”. Congressional leaders looked optimistic that negotiations will be reached before the Christmas which would prevent the ‘fiscal cliff’. Later on Sunday, President Obama also reiterated that he was confident enough that two sides would be able to find a solution. On U.S. economic news front, a data provided by National Association of Realtors showed that existing home sales climbed 2.1 percent in October to seasonally adjusted 4.79 million units. Economists polled by Reuters were expecting reading 4.75 million units. In a separate data, the homebuilder sentiment jumped for seventh successive month in November, hitting its highest level. According to NAHB/Wells Fargo the index stood at 46 while economists polled by Reuters were expecting the reading at 41. Elsewhere in Europe, equities rallied after a report carried out by Reuters said Greece might be offered next tranche of recue funds (44 billion euro) by December 5 provided that it’s ready to adhere to terms and conditions laid down by the Troika. In some corporate news, Citigroup (NYSE: C) announced that it will slash 300 jobs this year during this year, according to a Wall Street Journal report. Intel Corp. (NASDAQ: INTC) announced that its CEO Paul Otellini had decided to retire from next May. Lowe’s Companies Inc (NYSE: LOW) and Tyson Foods Inc. (NYSE: TSN) continued to rally after both companies’ quarterly earnings topped Street’s estimates. After the closing bell, Urban Outfitters Inc. (NASDAQ: URBN) and Jack in the Box Inc. (NASDAQ: JACK) are scheduled to report quarterly results.
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

Rivals dash to support Apple Pay for fear of losing outRivals dash to support Apple Pay for fear of losing out
FRANKFURT (Reuters) - In the hype-fueled technology industry, "revolutionary" is a word in danger of losing its meaning. But Apple Inc`s <AAPL.O> new mobile payments system - unveiled just t...
In film on alternative car fuels, former Shell exec speaks outIn film on alternative car fuels, former Shell exec speaks out
NEW YORK (Reuters) - Frustrated by what he describes as a lack of political courage, a former president of the U.S. unit of Royal Dutch Shell <RDSa.L> takes center stage in a new documentary f...
Exclusive: Exxon Mobil puts Torrance, Calif, refinery up for sale - sourcesExclusive: Exxon Mobil puts Torrance, Calif, refinery up for sale - sources
(Reuters) - Exxon Mobil Corp. <XOM.N> has put its Torrance, California, refinery on the block, according to two people familiar with the matter, making it the latest big oil company to conside...
U.S. judge awards $40.7 million in SEC case over bitcoin Ponzi schemeU.S. judge awards $40.7 million in SEC case over bitcoin Ponzi scheme
(Reuters) - A U.S. federal judge in Texas ordered Bitcoin Savings and Trust and its owner to pay a combined $40.7 million after the Securities and Exchange Commission established that the company, w...
Fiat to suspend output at Italian plant as demand falls: unionFiat to suspend output at Italian plant as demand falls: union
MILAN (Reuters) - Italian automaker Fiat <FIA.MI> will temporarily suspend production at its Pomigliano plant in southern Italy from Oct. 16-27 amid weak demand, a union representative said on F...

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.