Subscribe to RSS

Dow Passes 13,000 On Friday

Posted on 28. Jul, 2012 by in Business

The Dow Jones surged past the 13,000 mark on Friday.

July 28, 2012- On Friday, the Dow Jones passed the 13,000 mark, as investors were pleased with information from Europe over the debt crisis in the eurozone. The Dow jumped by 187 points on the day to close above 13,000. It was the first time the Dow has closed over that figure since May 7. The S&P 500 index was up nearly 26 to 1,385, while the Nasdaq jumped 64 points to close at 2,958.

New signs that point to leaders in Europe saying they are ready to support the region helped to push stocks up sharply for the second consecutive session. Mario Draghi, the President of the European Central Bank is making an attempt to win over policy makers in Europe on his plan of strengthening the financial health of the eurozone. On that news, stocks in the U.S. gained ground. The news said President Draghi would meet in the coming days with Bundesbank’s chief in Germany.

One analyst called Draghi’s work as something that shows the ship might remain afloat. He said everyone benefits if the eurozone is held together. Preceding the reports about Draghi’s plan, were statements from Francois Hollande, France’s President and Angela Merkel the Chancellor of Germany, which supported the eurozone. Their unity helped extend a rally that started Thursday afternoon.

0 comments

Other articlesgo to homepage

Sprint Loses Customers but Beats Expectations

Sprint Loses Customers but Beats Expectations(0)

April 24, 2013 - Sprint Nextel Corp, the third biggest wireless carrier in the U.S., reported a loss in the first quarter that was narrower than expected, even though the company saw more than 560,000 subscribers leave. The loss for the first quarter reached 21 cents per share for the company based in Overland Park, Kansas.

Shares and Dollar Up as G20 Accepts Japan Stimulus Policy

Shares and Dollar Up as G20 Accepts Japan Stimulus Policy(0)

April 22, 2013 - On Monday, the dollar increased to nearly 100 Yen and stocks were up after it was announced the G20 had accepted the bold stimulus policies of Japan. That helped to offset the gloom from the outlook on global growth. The G20 released a statement following two days of meetings that said it

U.S. Allows Merger between Busch Inbev and Grupo Modelo

U.S. Allows Merger between Busch Inbev and Grupo Modelo(0)

April 21, 2013- The U.S. Justice Department announced late last week it had approved the merger worth $20.1 billion between Grupo Modelo and Anheuser-Busch InBev. The approval came after the two beer giants came to an agreement with the DOJ over antitrust concerns. The settlement reached says the two companies must divest all of Modelo’s

Profits up at GE despite Problems in Europe

Profits up at GE despite Problems in Europe(0)

April 19, 2013 – The largest industrial group in the U.S. by market capitalization, General Electric, reported a rise of 14% in profits for the first three months of 2013. That increase came even though results in its businesses in Europe were much worse than anticipated. GE’s earnings per share were up 17% to 35

Morgan Stanley Reports lower Revenue, but Higher Profits

Morgan Stanley Reports lower Revenue, but Higher Profits(0)

April 18, 2013 - Morgan Stanley saw a slowdown in its trading activity during the first three months of 2013, which caused the securities firm to have lower revenues. However, due to its cost controls the firm recorded higher profits. Revenues for Morgan Stanley dropped to $8.5 billion in the first quarter compared to $8.9 billion

read more

Headlines

Genocide Trial in Guatemalan Suspended Genocide Trial in Guatemalan Suspended
One Suspect in Boston Killed, one on the run One Suspect in Boston Killed, one on the run
Musharraf Flees as Bail is Revoked Musharraf Flees as Bail is Revoked
Some Say New Immigration Bill too Stringent Some Say New Immigration Bill too Stringent
read more