S&P 500 index keeps climbing on earnings

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Source: Dukascopy Bank
S&P 500 index managed to gain on Friday despite disappointing US quarterly GDP figure. US benchmark climbed 0.24% or 3.38 points to 1,403.36 with consumer service sector contributing most. Expedia rocketed 24% on better than expected net income from its hotel-booking unit. Amazon rallied 16%, after the internet retailer posted a big jump in shipments. Starbucks fell 5% after the coffee company posted a stagnation of sales in Europe. On weekly basis S&P 500 index added 1.8%. 

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Mon, 30 Apr 2012 14:51:44 GMT

Dow Jones index added 0.2% on Friday despite GDP data

Dow Jones Industrial Average index traded higher on Friday as strong earnings reports offset the downside effects from Spain's downgrade and lower GDP data. Blue chip index added 0.18% or 23.69 points and closed at 13,228.31. On the upside McDonald's soared 1.6% and Cisco system climbed 1.9%. Procter & Gamble lost 4% after consumer products manufacturer said its profit dropped

Mon, 30 Apr 2012 20:01:45 GMT

US consumer spending rose by 0.3% in March

US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months.

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