Dow snaps three day losing streak $CAT:xnys
- Published: 26 July 2012
- The Dow finished the session higher to snap a three day losing streak whilst the S&P500 finished flat and the tech heavy NASDAQ laden by Apple's poor earnings result pushed the NASDAQ lower. The telecommunication sector was the strongest overnight whilst the technology stocks lagged the market
- Supporting the Dow was Caterpillar which rose 1.4% after it easily beat earnings expectations while Boeing also beat expectations to rise 2.78%
- Beverage giant PepsiCo rallied 2.2% after it beat earnings expectations
- Apple finished the session down 4.32% after the company missed earnings expectations and forecasted lower that expected forecasts for the current quarter. The tech giant sighted weaker iPhone demand due to the soon to be released iPhone 5 causing customers to hold off on new purchases
- Software maker Symantec rallied 13.55% after the companies board fired CEO Enrique Salem due to disappointing earnings under his tenure
- DOW +0.47%, S&P500 –0.03% and NASDAQ –0.31%
- The EUR rose for the first time in 6 days against the USD. AUD off slightly
- Gold rose 1.5% on stimulus hopes while Crude rose to above USD88.00 p/b
