Dow jumped on hopes for US fiscal cliff resolution

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Dow rallied on Monday on the US fiscal hopes and better-than-expected numbers from the housing market. However, market players remained cautious as the EU finance ministers are set to discuss Greek bailout terms on Tuesday. The Dow Jones Industrial Average Index soared 1.65% to close at 12,795.96. All companies included in the index advanced. The top-performers were telecommunications and basic materials. Verizon Communications and AT&T rose 3.41% and 2.05%, while EI du Pont de Nemours and Alcoa climbed 2.34% and 1.96%. Meanwhile, technology sector climbed 1.7%. Hewlett-Packard and Cisco Systems moved higher by 3.5% and 1.83%. Intel added 0.4% after announcing that Chief Executive Paul Otellini would retire next year after being for about 40 years with the company. Financials also were bullish, with Bank of America and American Express jumping 4.06% and 1.71%. JPMorgan Chase surged 2.68% after naming Marianne Lake as new CFO of Consumer and Community Banking division.



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Tue, 20 Nov 2012 09:57:59 GMT

Loonie advances as IMF consider classifying it as reserve currency

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Tue, 20 Nov 2012 11:04:39 GMT

US stocks skyrocketed on US fiscal optimism

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