Dow climbed ahead of Thanksgiving day

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Source: Dukascopy Bank SA
Dow moved higher on Wednesday on mixed signals from the national economy. US preliminary PMI data showed that manufacturing activity expanded more than expected this month. However, positive numbers were partly offset by a downward revision on the UoM consumer sentiment index. Capping gains of the US blue chips index, the eurozone's finance ministers again failed to agree on the next Greek bailout installment. The Dow Jones Industrial Average Index added 0.38% to close at 12,836.89. Eight out of nine sectors within the index climbed. Telecommunication and technology sectors posted the biggest gains. Verizon Communications and AT&T rose 0.79% and 0.5%, while Hewlett-Packard and Microsoft jumped 1.96% and 0.9%. However, a rebound of Hewlett-Packard shares was limited as RBC Capital Markets cut the firm to ‘sector perform' from ‘outperform'. Financials also were bullish, with Bank of America and American Express adding 1.45% and 0.21%.


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Thu, 22 Nov 2012 12:31:01 GMT

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