Dow Jones higher on Wednesday as asset purchasing program extended

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Source: Dukascopy Bank SA
U.S. shares snapped losses earlier this week, as the Federal Reserve will continue asset purchasing to stimulate growth in the world's largest economy and Euro-area policy makers are working on a new finance plan for Cyprus. The Dow Jones Industrial Average added 0.4%, or 55.91 points, to 1,588.71. All but two groups in the index edged higher. Consumer services group rallied the most, as Coca-Cola rose 1.4% for the biggest gain on Dow amid speculation the company works on promoting women business leadership and modernising its immigration policy. American Express led gains in financial stocks as the company plans to increase its quarterly dividend by 15% under a repurchasing program. Walt Disney jumped 1.1% to close at $56.94, as it agreed with Imax Corp. to co-produce their first movie that aim at creating understanding of the solar system. On the downside, the biggest construction and mining equipment maker Caterpillar erased 1.5% after reporting a 13% drop in its three-month global retail sales.


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Thu, 21 Mar 2013 13:02:08 GMT

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