U.S. stocks gain as corporate profits beat estimates

Source: Dukascopy Bank SA
U.S. shares advanced, as corporate profits from Companies, such as, Freeport-McMoRan Copper & Gold Inc. and Travelers Cos. beat the analysts' estimates. The Standard & Poor 500 climbed 0.4% to 1,492.51 points. All but one group in the gauge advanced. Technology shares posted the smallest increase in the index by adding 0.19%, as Seagate Technology rose 7.1%. Western Digital Corporation surged 5.7% to $47.36 also supporting the technology sector. Furthermore, Chesapeake Energy Corp. was the third best blue-chip in the gauge and rose 5.11% to $18.73 and led gains in the oil and gas shares that were 0.87% up. Alongside to that, Edwards Lifesciences Corporation erased 2.74%, the biggest slump in the index, followed by Autodesk that tumbled 2.53% to $36.55 to cap further increase in technology group. Furthermore, Red Hat eased 2.49%, also impeding further improvements in technology shares. Consumer sector was the only sector that declined, as it was 0.19% lower.
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Wed, 23 Jan 2013 12:39:04 GMT

Dow climbs on better than expected profits

U.S. blue chips advanced with the Dow Jones Industrial Average slightly increasing. The Dow Jones Industrial Average gained 0.5%, or 62.51 points, to 13,712.21. All sectors except for consumer goods inched higher. Basic materials posted biggest gains in the index, as the shares of the mining company Alcoa Inc. jumped 2.68% to $9.20. UnitedHealth Group led gains in the health

Wed, 23 Jan 2013 16:01:10 GMT

Copper slips from a one-week high as production in China reaches record

Copper futures with settlement for three months were lower by 0.4% to $8,098 a metric ton on London Metal Exchange during Asian trading session on Wednesday. The metal price declined from a one-week high, as China's industrial companies announced that production jumped by 22% in December, making a new record. Also, total output increased by 11% in 2012.

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