Dow climbs, as Chinese exports beat estimates

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Source: Dukascopy Bank SA
U.S. blue chips climbed for a second week, as optimism rose about fourth-quarter profits and rising Chinese exports. The Dow Jones Industrial Average advanced 0.4%, or 53.22 points, to 13,488.43. Five out of nine groups in the gauge advanced with the oil and gas sector rising the most by 0.9%. Microsoft Corporation posted biggest rally in the index with its shares soaring 1.5% and led gains in the technology stocks. Furthermore, Chevron Corporation, the second largest oil company by market value in the U.S., surged 1.14% after it said its fourth quarter earnings will be higher than the previous quarter's profit, as gains on assets surged and the company's international production also rose. Merck & Co shares added 1.1%, pacing gains in the health care sector that was 0.04% up. Meanwhile, Boeing Co erased 2.5%, as the Japan Airlines Co. operated 787 Dreamliner caught fire in the Boston's International Airport. Bank of America contributed to losses in the financial shares, as its share slid 1.3% after Credit Suisse downgraded the lender from outperform to neutral.
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Mon, 14 Jan 2013 13:45:04 GMT

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