Stocks jump on gold, earnings and data $AAPL
- Published: 17 April 2013
- Economic data pushed stocks higher as the U.S. Consumer Price Index fell in March for the first time in four months, giving the Federal Reserve room to maintain its monetary stimulus to speed up economic growth.
- The Standard & Poor’s 500 Index gained 1.43 per cent posting its second-best gain of the year and rebounding from its biggest drop in five months.
- Leading the Dow higher, Coca-Cola Co (KO) shares rose 5.7% to $42.37, after rising intraday to $42.48, their highest since 1998. The stock's surge followed Coca-Cola's earnings on Tuesday, when the world's largest soft drinker maker reported a higher-than-expected profit.
- DOW +1.08% S&P500 +1.43% and NASDAQ +1.50%
- The Canadian dollar (CAD) rose against its US counterpart on the back of gold prices recovering from a 14% two day fall that dampened the demand for commodity linked currencies. The CAD is currently trading at 1.0211 per U.S Dollar.
- Gold has recovered from a two year low after the precious metal had its biggest sell off in 33 years over the last two days. Gold is currently trading at US$1372.86 an ounce.
