Dow Jones Top Upward Movements: Hewlett Packard, Kraft Foods and Bank of America

US stock markets closed on a positive note on Thursday as the Dow Jones Industrial Average jumped 1.76 percent or 208.43 points to close at 12,044.47. Standard & Poor’s 500 index gained 1.88 percent or 23.25 points to 1,261.15 while NASDAQ Composite surged 2.20 percent or 57.99 points to close at 2,697.97 points.

Hewlett-Packard Company (NYSE:HPQ) soared 3.59 percent in yesterday’s session to close at $26.84 with traded volume of 16.10 million shares. The stock maintains the average traded volume of 29.27 million shares per day. The share price moved 9.56 percent above its 50-days simple moving average after yesterday’s surge.

Kraft Foods Inc (NYSE:KFT) surged 3.29 percent to close at $35.78 in yesterday’s session. The traded volume stood at 14.21 million shares as compared to its average traded volume figure of 12.65 million shares per day. The share price is trading near its overbought level as per its relative strength index of 60.52 times.

Bank of America Corp (NYSE:BAC) advanced 2.83 percent to close at $6.91 in yesterday’s session. Bank of America was also the most active among Dow Jones components with traded volume of 243.81 million shares while its average traded volume figure stands at 315.14 million shares per day. The share price moved 2.21 percent above its 50-days simple moving average after yesterday’s increase.

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Rehan Khan

About Rehan Khan

Rehan Khan has been involved in the financial sector for last 6 years. During that time he has been associated with many financial institutions, banks and brokerages. Rehan is also a graduate in finance and has been writing for last 2 years for various web publications, specializing in US stock markets, penny stocks, forex and commodities.

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