Click for more market data.
NEW YORK (CNNMoney) -- U.S. stocks held gains Friday as investors welcomed a strong reading on consumer sentiment and sifted through mixed corporate results.
The Dow Jones industrial average was up 0.4%, while the S&P 500 and the Nasdaq both gained about 0.2%.
Bank stocks were under pressure after Wells Fargo (WFC, Fortune 500) said sales fell short of expectations in the third quarter, even as profits met analysts' forecasts. JPMorgan (JPM, Fortune 500) shares eased after the bank reported record quarterly profits. Bank of America (BAC, Fortune 500), which reports quarterly results next week, was the worst performer on the Dow.
"Wells Fargo took all the life out of the rally this morning," said David Lutz, head ETF trader at Stifel Nicolaus in St. Louis.
Investors were also focused on shares of companies in the semiconductor space after AMD (AMD, Fortune 500)cut its revenue forecast for the third quarter. Despite a dim outlook for PC-sales, Hewlett-Packar (HPQ, Fortune 500)d shares led the Dow higher.
Stocks were supported by a better-than-expected reading on American consumers. The University of Michigan/Reuters consumer sentiment index for October rose to 83.1, the highest level in five years. It was expected to come in at 78.5.
A report by the Labor Department showed producer prices rose 1.1% in September, higher than anticipated. Government officials attributed much of that to spikes in food and energy prices, noting that excluding those increases, the prices of finished goods remained unchanged from the previous month.
On Thursday afternoon, U.S. stocks pared earlier gains and ended the day little changed, as enthusiasm over upbeat economic data faded.
Fear & Greed Index
European stocks were lower in morning trading. Britain's FTSE 100 and the DAX in Germany were both down about 0.4%. France's CAC 40 fell 0.1%.
In Asia, markets ended mixed as the region struggles with worries about economic growth. In China, where trade and inflation data will be reported in the next three days, the Shanghai Composite edged higher by 0.1% and the Hang Seng in Hong Kong rose 0.7%. National officials also guided the yuan much higher versus the dollar following weeks of criticism from President Obama and presidential challenger Mitt Romney.
Meanwhile, Japan's Nikkei fell 0.2% as a few companies weighed down markets there. SoftBank stock fell sharply after it became clear the company is in talks to buy Sprint, the third largest U.S. carrier, for more than $12 billion. Worsening Sino-Japanese relations over an island territorial dispute also continue to harm firms because of actions like China's auto boycott.
Companies: Realogy -- the parent of real estate brokers Century 21, ERA and Coldwell Banker -- began trading on the New York Stock Exchange Thursday under the ticker RLGY. The company priced its IPO at the top end of its estimated range, and shares of Realogy (RLGY) rising 27% from their offering price.
Shares of Shutterstock (SSTK) jumped more than 27% in their market debut Thursday. The online stock photography company also priced its shares above the expected range in its IPO.
Travelzoo (TZOO) shares plunged after the company acknowledged that its "group-buying voucher model" was not meeting the needs of its clients.
Currencies and commodities: The dollar fell against the euro, British pound and the Japanese yen.
Oil for November delivery rose 15 cents to $91.21 a barrel.
Gold futures for December delivery fell $4.30 to $1,766.40 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, lowering the yield to 1.66% from 1.68% late Thursday. 
First Published: October 12, 2012: 9:50 AM ET
Anda sedang membaca artikel tentang
Stocks gain as consumer sentiment improves
Dengan url
http://kasiatbuatsehat.blogspot.com/2012/10/stocks-gain-as-consumer-sentiment.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Stocks gain as consumer sentiment improves
namun jangan lupa untuk meletakkan link
Stocks gain as consumer sentiment improves
sebagai sumbernya
0 komentar:
Posting Komentar