Thursday, May 9, 2013

The Car Insurance Info: The Dow finished above 15,000 for the first time

New York (The Car Insurance Info)-Wall Street rose and send auctions (blue-chip) Dow Jones Industrial Average on Tuesday (Monday morning EST) closed above 15,000 for the first time, as investors ' optimism over the US economy supports equity such as Caterpillar.

The Dow surged 87,31 points (0.58 percent) to end at 15.056, 06, just two days after it first broke through the threshold of 15,000 in a trade journal, reported AFP.

Broad-based index S&P 500 increased 8,46 points (0,52%) on,96, 1,625 fourth consecutive day closed at all-time highs.

The Nasdaq composite index of technology up 3,66 points (0.11 percent) to 3.396,63.

"We are continuing to look a little more into rotation cycle for the past week," said David Levy of Kenjol Capital Management, who appointed Carterpillar as an example.

Dow Member Caterpillar, who sold construction equipment and other industrial materials, up 2.5 percent.

The Dow is approaching the last of a series of record-setting stock market was recently boosted by the liquidity of the central banks and some u.s. economic data.

Analysts said the rally also got support from a surprising step which Australia's central bank slashed its main interest rate a quarter point to a record low of 2.75 percent and a surge in factory orders in Germany.

JPMorgan Chase rose 2.0 percent after shareholder advisory firm Glass Lewis agreed to the proposal of the shareholder to separate the roles of Chairman and Chief Executive.

Health care company Baxter International lost 2.5 percent after the announced failure of the clinical study on the treatment to reduce cognitive decline in people with Alzheimer's disease.

DirecTV rose 6.9 percent after reporting earnings that beat Analyst estimates of 32 cents per share and a higher income than expected.

EOG Resources oil company ended 4.8 percent higher after announcing growth of oil production year-over-year 36 percent. EOG, a major player in the "boom" of oil shale, the project noted the growth rate of crude oil production together with other leading groups during the 2013-2017.

First Solar down 8.9 percent after reporting earnings below expectations excluding the cost.

Bond prices fell. Yields on u.s. Government bonds 10 years rose to 1.78 percent from 1,77 per cent on Monday, while the yield on the 30-year Treasury bond rose to 3.00 percent from 2.99 percent. Bond prices move in reverse to the yield. (A026)

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Title Post: The Car Insurance Info: The Dow finished above 15,000 for the first time
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Author: Mohammad Zulfi Satriawan

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