U.S. shares higher on positive economic data

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Source: Dukascopy Bank SA
U.S. stocks extended their gains for a second straight day on Wednesday after Ben Bernanke, the Chairman of Federal Reserve, assured his strong support for growth-boosting activities and U.S. housing and durables goods data added to positive sentiment. The S&P 500 Index advanced 1.4%, or 20.92 points, to 1,517.86. All sectors in the gauge rallied at least 0.8%. Dollar Tree posted the biggest gain with its shares soaring as much as 10.5% to $ 45.39, as the discount variety store will release data on its corporate earnings. The AES Corp., in turn, climbed 6.3% to pace gains in utility sector that was 0.9% up. The multinational power producer surged the most in 18 months, as it posted fourth-quarter earnings that topped the estimates. Joy Global jumped 5.82% to $63.45, adding to the 1.8% increase in industrials, the biggest gain in the index. First Solar slid 14% as its expected profit dropped 15% in 2012.
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Thu, 28 Feb 2013 08:42:04 GMT

Dow Jones reaches it highest level in five years as U.S. housing improves

The Wall Street was green on Wednesday, as better-than-forecast data on U.S. housing bolstered bullish sentiment in stocks and European stocks edged higher, as Italian bond auction reached its maximum target. The Dow Jones Industrial Average rallied 1.3%, or 175.24 points, to 14,077.85, its highest in five years. All ten groups inched up. JPMorgan Chase & Co led gains in

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