Dow rallies on soaring technology shares

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Source: Dukascopy Bank SA
Last week, the Dow Jones industrial Average breached the technical and psychological resistance level of 14,000 during the session, as companies kept reporting corporate earnings that topped the estimates. The Dow Jones Index gained 0.4% on Friday to close at 13,992.97. Six out of nine groups in the gauge edged higher with technology shares taking the leading position. Hewlett-Packard jumped 2.6% to $16.87 as the company tightened rules of hiring in China, and Microsoft Corporation rallied as much as 1% to $27.55. Both firms lifted technology group that was 1% up. Furthermore, UnitedHealth Group Inc. posted second biggest gain in the equity gauge by surging 1.2% to $57.74 and contributed to health care group that rose 0.6%. Home Depot Inc. that sells building materials and home improvement products climbed 1.1% to $67.01 pacing gains in the consumer services sector that rose 0.5%. Meanwhile, Boeing paired the biggest losses among all blue chip firms, as the company has told airlines waiting for the 787 Dreamliner deliveries that the deliveries might be late due to the on-going investigation on overheating batteries. Boeing erased as much as 1.1% to $76.56 to cap gains in consumer services group, while Bank of America and American Express lost 0.7% and 0.6%, respectively to drag down financials.
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