Wall Street climbs thanks to business profits
NEW YORK (AP) - Considerable earnings reported by large U.S. companies led on Friday an increase in the prices of shares in New York, while the S & P 500 had their first adverse week of the year.
The Dow industrial parameter rose 119,95 points (0.9 to 14.000,57 in its third largest increase this year. The Standard and Poor's 500 increased 13,18 units (0.9%) to 1.515,60. The Nasdaq composite index advanced 30,33 integers (1%) to 3.161,82 points.
The S & P 500 and the Nasdaq closed with a slight reduction in weekly, while the Dow grew up in the week.
Three shares gained for each that lost on the New York Stock Exchange. Volume was 3.3 billion of roles, a little more than the recent average.
Hewlett-Packard recorded the largest gain among the actions in the Dow and the S & P 500. On Thursday night presented its earnings report for the first quarter which exceeded all forecasts and that were a relief to several months of bad news for the manufacturer of computers. The titles of h-p rose 2.10 dollars (12.3 to 19.20 dollars.
Cabot Oil & Gas Corp. He had the second best performance in the S & P 500 a day after call profits that exceeded the expectations of analysts. Its shares rose 5.95 dollars (11.1-59,81 dollars.
Bill Stone, head of investments at PNC Wealth Management, expressed the hope that actions continue to rise despite the volatility this week.
"There will be surprises and bruises along the way, but yes we believe that things are really improving, so it seems to me that there is an underlying demand" actions, estimated Stone.
Frightened investors on Wednesday caused a crash on Wall Street since the new Federal Reserve meeting revealed disagreements about how long should continue the policy of purchasing bonds to encourage the US economy. The downward trend continued Thursday. The Dow lost 155 points in those two days.
U.S. stocks followed the favorable situation that showed European papers after a survey showed a substantial improvement in optimism among German companies, which supports evidence that Germany will avoid falling into recession. German economic vitality is crucial for the region because it serves as a counterweight to the economic contraction in several countries in the region.
"Germany is really critical," said Stone. "If he gives in, then there will be serious problems".
The France CAC-40 stock index gained 2.2%, the DAX in Germany rose 1%, and Britain's FTSE 100 had an increase of 0.7%. In Asia, the Japanese indicator Nkkei 225 advanced 0.7 and the parameter key of China, the Shanghai composite, fell 0.5 per cent.
The 10-year US Treasury bond was a reduction in the yield of 1.98% 1.96% Thursday.
In the money market, the euro depreciated 0.15% while the US currency remained firm 93,29 yen. In the oil markets, crude reference for April delivery fell 22 cents to 92,62 dollars barrel on e-procurement in the New York Mercantile Exchange.
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