Stocks and commodities rise on economic optimism $VIX
- Published: 27 March 2013
- The S&P500 closed within two points of its 2007 record close to finish at 1563.77 after larger than forecast increases in American durable goods orders and increasing home prices. The benchmark gauge has surpassed the 1,560 level six times since March 14, only to fall short of the record each time.
- Netflix (NFLX) climbed 5.4 percent to $190.60 after Pacific Crest Securities LLC raised its price target on the company. Pacific Crest raised its price target on the company to $225 from its previous estimate of $160, writing in a note that ‘Netflix is the future of non-live video.’ Boeing Co. (BA) added 2.1 percent to finish the session at $86.62 after an appeals court upheld the dismissal of a lawsuit.
- DOW +0.77% S&P500 +0.78% and NASDAQ +0.53%
- The Japanese Yen has fallen about 15 percent against the Dollar, to now trade at 94.48 since mid-November when Prime Minister Shinzo Abe, then running for office, began a campaign to talk down the value of Japan’s currency in order to revive the nation’s export-led economy.
- Gold, for immediate delivery fell 0.55 percent to $1595.70. The price has dropped 4.2 percent in 2013. CPM Group states that gold prices on average may fall this year for the first time since 2001 as investors shift ‘away from extreme expectations of an imminent collapse of the global financial system.
