Dow higher on Tuesday as economic data outperforms the estimates

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Source: Dukascopy Bank SA
U.S. blue chips edged higher on Tuesday after reports showed the housing and consumer confidence grew more-than-expected. New home purchases in January rallied to their highest since July 2008, boosted by stronger consumer confidence in February. The Dow Jones Industrial Average rose 0.8%, or 115.96 points, to 13,900.13. All nine groups in the index edged higher. Home Depot led gains in the gauge, as it climbed 5.7% to $67.56 by its close, while Hewlett-Packard advanced 3.8% to $19.79, adding to the increase in technology shares that were 0.9% higher. Furthermore, Intel corporation soared 1.7% to $20.58, as the company released next-gen Intel Atom chipsets, trying to enter further into the tablet and smartphone market. Among top losers was UnitedHealth Group that erased 0.5% to close at $53.05, capping gains in health care shares that posted the smallest increase among all sectors of 0.01%.
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Wed, 27 Feb 2013 08:53:55 GMT

Aussie stays lower amid Italy's election deadlock

The Australian Dollar stayed lower amid concern Italy's election deadlock will worsen the Eurozone's debt crisis, sapping investors' appetite for higher-yielding assets. The Aussie fell 0.1% to $1.0216 as of 4:15 p.m. in Sydney from a day earlier, when it traded at $1.0201, the weakest level since October 10. The currency slid 0.4% to 93.71 yen.

Wed, 27 Feb 2013 07:29:04 GMT

U.S. shares rebound as housing data higher than forecast

Wall Street was green on Tuesday, rebounding from the lowest levels since November 2012, as housing and consumer confidence data topped the estimates. The S&P 500 Index climbed 0.6% to close at 1,496.94. All sectors edged higher. PulteGroup Inc. posted biggest gains in the index, as its shares were 5.72% up at $19.05 by its close, adding to the 0.5%

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