US stocks advanced on Wednesday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AP
US equities rallied during risk-on Wednesday's trade. Upbeat data from the national housing market boosted market sentiment. US housing starts and building permits surpassed forecast in September, signalling that US economy is on the way to recovery. Adding to the positive mood of the US shares, corporate earnings reports came better-than-expected. The S&P 500 Index advanced 0.41% to close at 1,460.91. All sectors except for technology prolonged the rally. Utilities and financials led the gains. Ameren, American Electric Power and Edison International climbed 1.07%, 1.03% and 0.78%, respectively. Among lenders, Huntington Bancshares and SunTrust Banks added 2.17% and 2.84%. Meanwhile, Dean Foods was the top-gainer, surging 12.77% after the firm reported that it plans to keep at least 80% stake of its subsidiary WhiteWave after WhiteWave's IPO. Dragging the S&P 500 index lower, technology companies retreated. Cisco Systems and Dell shed 0.80% and 0.51%. On the downside was Apollo Group, tumbling 22.15% after reporting that a sharp drop in the number of students weighted down on profits.


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Thu, 18 Oct 2012 16:38:27 GMT

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