US blue chips advanced amid hopes for better Q3 results

Source: Dukascopy Bank SA
© Scanpix/AFP
US blue chips soared on Tuesday on encouraging news from the US and Europe. US factory production rose more expected last month while German investors' sentiment improved in October. Sending the US blue chips index higher, earnings of Dow companies beat expectations in Q3. The Dow Jones Industrial Average Index advanced 0.95% to close at 13,551.78. Eight out of nine sectors included in the index surged. The top-performers were industrials and basic materials. 3M, Boeing and Caterpillar gained 1.55%, 1.70% and 2.60%, respectively. Alcoa and El du Pont de Nemours rose 1.59% and 0.49% on positive factory production data. On the upside was also Johnson & Johnson, climbing 1.38% on reports that the firm's profits beat expectations last quarter. Financials also joined the rally, with Bank of America and American Express adding 0.21% and 1.81%. Dragging the Dow Jones index lower, Verizon Communications dropped 0.94%. UnitedHealth also fell 0.85% despite reporting better-than-expected earnings and raising full year profit target.


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Wed, 17 Oct 2012 15:58:24 GMT

Japanese shares soared on weaker Yen

Japanese equities continued their rally on Wednesday on upbeat US data and easing concerns over indebted eurozone. Weaker Yen also supported Japanese stock index, pushing exporters higher. The Yen depreciated to one-month low against the US Dollar. Moreover, worries over poor corporate earnings eased after US counterparts started to report strong results in Q3. The Nikkei 225 Index surged 1.21%

Wed, 17 Oct 2012 15:09:29 GMT

US stocks rallied on encouraging industrial production figures

US stocks rallied on Tuesday after the Labor Department announced that CPI rose only by 0.1% in September, indicating that consumers have more money to spend. Moreover, slower CPI growth leaves a room for further easing from the Fed. Adding to the positive mood of the US equities, US industrial production climbed 0.4% last month, beating expectations of a 0.2%

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