A Better Day For US Investors

After reports of optimistic US economy, stock prices today rose modestly, reducing worries about teetering euro zone crisis. Hopes were raised that euro zone will rescue itself from the current turmoil. After trading in the range of +86.1 and -77.7 points, the Dow Jones Industrial Average ended the day with rise of 17.18 points at 12,096.16. Home Depot Inc. as well as Wal-Mart Stores Inc. announced quarterly results during the session and prices of both stocks fell. The Nasdaq Composite Index rose by 28.98 to close at 2686.20.

During the session the S&P 500 Index also gathered some steam and increased by 6.02 points to 1,257.81. On the New York Stock Exchange the ratio of gainers to declines was 2 to 1.

Bain Capital, private-equity Company, has decided to sell 3.7 million shares of LinkedIn that was listed during the month of May. Trading volume was lower than average in line with previous two sessions. 781 million stocks were traded at NYSE. Trading volume of NYSE composite was 3.5 billion.

Data released by the Commerce Department depicted optimistic outlook for the US economy during the final quarter of the current year. The Federal Reserve Bank of New York’s index of economic activity which was in the negative zone since May, moved in the upward direction.

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Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

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