Connect with us

archive

U.S. Stocks Rise after Three-Day Sell-Off

U.S. stocks rose Tuesday, with the Standard & Poorâ??s 500 Index rebounding from its worst slump since June, fueled by earnings at companies from Pfizer Inc. to D.R. Horton Inc. topping estimates and consumer confidence rising.

U.S. Stocks Rise after Three-Day Sell-Off (Bloomberg)

U.S. stocks rose Tuesday, with the Standard & Poorâ??s 500 Index rebounding from its worst slump since June, fueled by earnings at companies from Pfizer Inc. to D.R. Horton Inc. topping estimates and consumer confidence rising. The S&P 500 (SPX) rose 0.6 percent to 1,792.50, while the Dow Jones Industrial Average climbed 90.68 points, or 0.6 percent, to 15,928.56. About 6.6 billion shares changed hands on U.S. exchanges, 6.8 percent more than the three-month average. Pfizer, the worldâ??s biggest drugmaker, jumped 2.6 percent after its earnings beat estimates as it cut costs and benefitted from a reduced tax rate. An index of homebuilders surged 5.3 percent as D.R. Horton jumped 9.8 percent and a report showed home prices climbed. American International Group Inc. rose 2.5 percent after Bank of America Corp. announced it expects the insurer to buy back $10 billion of stock during the next two years. But Apple Inc. tumbled 8 percent as iPhone sales trailed estimates. Wednesday’s trading will be affected by results of the last  Federal Reserve policy meeting led by outgoing Chairman Ben Bernanke, who will be succeeded by Janet Yellen on Feb. 1.

Newsletter Signup.

Sign up to the Human Events newsletter

Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

Advertisement
Advertisement

TRENDING NOW:

Today a Milkshake, Tomorrow A Brick: Corporate-Backed Political Violence Is Here.

CULTURE

Buzzfeed Bashes 14-Yr-Old Trump Fan, Celebrates Kids in Drag.

TECH

The Lived Experience of Candace Owens.

CULTURE

Al Jazeera: ‘Jews Exploit Holocaust’.

FOREIGN AFFAIRS

archive

U.S. Stocks Rise after Three-Day Sell-Off

U.S. Stocks Rise after Three-Day Sell-Off (Bloomberg)

U.S. stocks rose Tuesday, with the Standard & Poor’s 500 Index rebounding from its worst slump since June, fueled by earnings at companies from Pfizer Inc. to D.R. Horton Inc. topping estimates and consumer confidence rising. The S&P 500 (SPX) rose 0.6 percent to 1,792.50, while the Dow Jones Industrial Average climbed 90.68 points, or 0.6 percent, to 15,928.56. About 6.6 billion shares changed hands on U.S. exchanges, 6.8 percent more than the three-month average. Pfizer, the world’s biggest drugmaker, jumped 2.6 percent after its earnings beat estimates as it cut costs and benefitted from a reduced tax rate. An index of homebuilders surged 5.3 percent as D.R. Horton jumped 9.8 percent and a report showed home prices climbed. American International Group Inc. rose 2.5 percent after Bank of America Corp. announced it expects the insurer to buy back $10 billion of stock during the next two years. But Apple Inc. tumbled 8 percent as iPhone sales trailed estimates. Wednesday’s trading will be affected by results of the last  Federal Reserve policy meeting led by outgoing Chairman Ben Bernanke, who will be succeeded by Janet Yellen on Feb. 1.

Newsletter Signup.

Sign up to the Human Events newsletter

TRENDING NOW:

Today a Milkshake, Tomorrow A Brick: Corporate-Backed Political Violence Is Here.

CULTURE

Buzzfeed Bashes 14-Yr-Old Trump Fan, Celebrates Kids in Drag.

TECH

The Lived Experience of Candace Owens.

CULTURE

Al Jazeera: ‘Jews Exploit Holocaust’.

FOREIGN AFFAIRS

Connect
Newsletter Signup.

Sign up to the Human Events newsletter