Stocks on Wall Street closed higher on Tuesday (Wednesday morning GMT ) , after moving in and out of negative territory as earnings reports and mixed economic data gave no clear direction for the market .
Seed stock index Dow Jones Industrial Average rose 89.32 points, or 0.55 percent, to 16262.56 . The S & P 500 added 12.37 points, or 0.68 percent, to 1842.98 and the Nasdaq Composite rose indeka 11.47 points, or 0.29 percent, to 4034.16 , Xinhua reported .
The market showed forth trading session as investors seek to find direction amid mixed signals from earnings reports , economic data and geopolitical uncertainty in Ukraine .
Major stock indexes moved higher initially driven by quarterly results better than expected from two Dow components .
Coca - Cola said net operating income for the first quarter decreased four percent to $ 10.58 billion , slightly above analyst expectations . Shares of the beverage manufacturers rose 3.74 percent to 40.18 dollars .
Johnson & Johnson said its net income for the first quarter jumped 35 percent year -on-year to 4.7 billion U.S. dollars , or 1.64 dollars per diluted share for quarterly sales rose 3.5 percent to 18.1 billion beat estimates analysts . Shares of the provider of health care products increased 2.12 percent to 99.20 dollars .
Technology giants Intel and Yahoo to report earnings after the closing bell . Yahoo shares jumped in trading " after-hour " because the company 's first quarter results exceeded Wall Street forecasts . Intel shares rose in extended trading session after the chip maker posted a lower quarterly profit but its outlook for the current quarter exceeded market expectations .
However , the market immediately strip away all the early gains around noon before turning back into positive territory towards the close , as a group of economic data that came out excited .
U.S. builder confidence in the market for new construction of single -family homes edged up one point to 47 in April from a downwardly revised 46 in March , according to the latest Housing Market Index by the National Association of Home Builders / Wells Fargo .
In addition , manufacturing activity in the New York area flat in April , with the index of general business conditions unexpectedly slipped four points to 1.3 , according to a survey released by the Federal Reserve Bank of New York on Tuesday .
In addition , the U.S. Consumer Price Index for all urban consumers increased 0.2 percent seasonally adjusted in March , the Labor Department said .
Rising tensions in Ukraine also worrying investors , thereby strengthening the market volatility .
In the previous trading day , U.S. stocks rebound ( rebound ) of the selloff last week , as Citigroup earnings and strong retail sales boosted market sentiment .
In other markets , the dollar strengthened against other major currencies on Tuesday as data showed U.S. inflation rate rose in March .
In late New York trading , the euro fell to 1.3809 dollars from 1.3821 dollars in the previous session , while the dollar bought 101.83 yen from 101.72 yen higher in the previous session .
Oil prices retreated on forecasts that U.S. crude inventories increased last week .
Light sweet crude for May delivery fell 30 cents to settle at 103.75 dollars a barrel on the New York Mercantile Exchange .
Gold futures on the COMEX division of the New York Mercantile Exchange fell more than two percent , giving back the previous days gains on profit-taking .
The most active gold contract for June delivery lost 27.2 U.S. dollars , or 2.05 percent, to settle at 1300.3 dollars per ounce .
No comments:
Post a Comment