U.S. shares post their longest daily gains since 2004

Source: Dukascopy Bank SA
U.S. shares climbed on Friday, posting the longest stretch of daily rallies in the last 8 years, as optimism rose on corporate earnings that beat the estimates and the delay in determining the federal debt-ceiling. The S&P 500 index advanced 1.1% to 1,502.96. All groups in the index edged higher. Netflix was the best performing blue chip in the gauge, as it gained 15.5% amid better-than-forecast subscriber growth and profit that beat the estimates. Furthermore, KLA -Tencor Corp. added to gains in technology sector with its shares surging 8.4%, while VeriSign Inc., a provider of Internet infrastructure services, soared 7.4% to pace an increase in the telecommunications stocks that were 0.4% up. Among worst performers were Joy Global Inc. that erased as much as 4.1%, followed by Hasbro, a company that designs, manufactures, and markets toys, games, interactive software, puzzles, and infant products, that eased 3% to $37.31. Furthermore, Yum! Brands declined 2.7% to $64.63 and capped further increase in the consumer services group that was 0.85% up.
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Mon, 28 Jan 2013 12:10:04 GMT

Dow extends gains as profits beat the estimates

U.S. equities posted longest series of daily gains since the year 2004 on better-than-expected corporate profits and U.S. lawmakers' decision to temporarily delay the federal debt-ceiling. The Dow Jones Industrial Average rallied 1.8%, or 246.28 points, to 13,895.98. All sectors in the gauge edged higher. Consumer goods posted biggest gains after Procter & Gamble jumped the most among all blue

Mon, 28 Jan 2013 08:39:05 GMT

Corn tumbled on bearish USDA report

Rural commodities were mixed on Friday amid broadly weaker US Dollar and concerns over spreading coffee leaf rust in Central America. Meanwhile, mixed US export data released by the USDA also caused grains' price correction. Wheat climbed after the USDA report showed that US wheat export sales beat expectations, surging above 650,000 tonnes. Additionally, concerns over the US hard winter

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