Dow gains on hopes for better economic outlook

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Source: Dukascopy Bank SA
U.S. blue chips surged with the S&P 500 rebounding from earlier decline on improving retail and transportation companies. Retail sales climbed more than expected in December, showing Americans might be able to rise above Washington's budget ceiling to boost the economic growth. The Dow Jones Industrial average gained 0.2%, or 27.57 points, to 13,534.89. Five out of nine sectors in the gauge edged higher with consumer services shares posting the biggest gains. Microsoft corporation advanced the most in the index with its shares soaring 1.15% to $27.21, followed by Caterpillar that added 1.1% to $95.67 to pace gains in the industrial shares. Among worst performers was Hewlett-Packard Co with its stocks slumping 2.5%, as the company is laying off employees. Furthermore, telecommunications stocks paired biggest losses, as Verizon Communications retreated 1.46%. Health care group was dragged down by Merck & Co, as it shares erased 1.1% to $42.87.
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Wed, 16 Jan 2013 13:33:03 GMT

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