Dow closes at its five-year high

Source: Dukascopy Bank SA
Wall Street was green on Monday, with the Dow Jones Industrial Average reaching its highest since 2007, as Federal Reserve will continue boosting the economy with its stimulus measures offsetting concerns about the Chinese economy. The Dow Jones Industrial Average rallied 0.3% to 14,127.82, its highest in five years. All but one group in the gauge inched higher. Wal-Mart Stores Inc. jumped 2.1% to $73.26 to pace gains in consumer services sector that was 0.9% up. Home Depot Inc. shares soared 1.8% to $70.29, also supporting consumer services group. Health care shares were 0.7% up, as Merck & Co Inc. rose as much as 1.7%. The global health care company currently is studying medicines that could cure patients from AIDS virus. On the downside, Caterpillar Inc., the largest construction and mining equipment maker, erased 1.8% and dragged down industrials that were 0.8% lower.
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Tue, 05 Mar 2013 11:14:04 GMT

Nikkei advances on hopes for monetary easing

Most blue chips in the Nikkei 225 benchmark gauge edged higher amid speculation Japanese central banks will introduce more monetary easing to bolster the economic growth. However, firms depending on exports shrank, as the Yen climbed against its major counterparts. Taiyo Yuden Co., a ceramic-capacitor maker, jumped 9.2% to pace gains in industrial shares, as its stock rating was upgraded

Tue, 05 Mar 2013 09:58:03 GMT

China keeps its growth target, but cuts inflation goal

China maintained its economic-growth target for 2013 unchanged at 7.5%, reflecting the nation's intention to keep more moderate growth rather than higher growth rates seen in the last decade as a part of the government aim to restructure economy and restore the growth model. Additionally, the government cut its inflation target from 4% last year to 3.5%.

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