Markets resume their upward trend as the Dow closes in on 14000 $DJI.I
- Published: 30 January 2013
- US markets closed the session higher as strong earnings results pushed the Dow to close just below the important 14000 level. Markets are also looking towards the Federal Reserve's policy announcement which is due out tonight
- In economic news Consumer Confidence for January fell due to higher tax fears
- Housing stocks received a boost as the S&P/Case-Shiller Home Price Index supported the ongoing US housing recovery. Added to that ,major US homebuilder DR Horton reported EPS of 20 cents which beat the 14 cent market consensus
- Amazon was down 5.68% during the session then soared 9.08% in the aftermarket after the online retailer reported earnings that saw a sharp rise in revenue but a 45% fall in net income as the company continues to invest heavily in distribution services
- Pharmaceuticals Pfizer and Eli Lilly rallied after stronger than expected earnings
- Ford reported and fell 4.64% as investors were disappointed by its losses in Europe
- DOW +0.52%, S&P500 +0.51% and NASDAQ -0.02%
- USD was weaker against the EUR which just fell short of 1.35, AUD inched higher. Gold managed to rise 0.5% on dovish Fed speculation while Crude rallied 0.8%
