Dow advances on positive estimates over earnings

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Source: Dukascopy Bank SA
U.S. blue chips advanced on Monday as earnings season was set to kick off. The Dow Jones Index rose 0.3%, or 48.23 points, to 14,613.48. Consumer goods and services sectors added the most by jumping 1.1% both. Bank of America Corp surged 2% to $12.21, as the bank launched a "video chat" function in its ATMs, enabling to connect a bank worker through ATM. In addition, the company changed the slogan and strategy. The Coca-Cola Co climbed 1.9% to $40.86. The beverage producer plans to invest $700 million in Indonesia till 2016, marking the country as the next emerging market to enter in Asia. Furthermore, Alcoa Inc opened the first quarter earnings season among big companies. The company's profit reached $0.11 per share, beating the estimates of $0.08. The aluminum manufacturer rallied 1.8% to $8.39. Meanwhile, Johnson & Johnson lost 1.1% to $81.11, as JPMorgan Chase & Co downgraded the company's shares to overweight. AT&T Inc followed with a 1% plunge to close at $37.62. Caterpillar Inc declined 0.5% to $84.19, capping further gains in industrial sector.
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