Dow moves to its highest level since July $DJI.I
- Updated: 02 April 2012
- Published: 22 August 2011
- The Dow moved to its highest point since July as encouraging economic data from the US, Germany and China helped bolster stocks. Adding to the economic news was Spanish bond yields falling
- Nine out of ten sectors gained on the S&P overnight. Leading the moves higher was Sears Holding Corp (SHLD) which rallied 9.5% on rumours that it will be privatised
- Wells Fargo which is the biggest US bank by market value gained 0.73% after reporting a record profit. CitiGroup fell 8.21% after it missed its earnings and profit expectations. JPM and BAC were also down leading the Dow lower, 2.81% and 1.97% respectively
- Other stocks to lead the moves on the Dow were MRK, CSCO and UTX up 1.30%, 1.29% and 1.26% respectively
- DOW 0.48%, S&P500 0.36% and NASDAQ 0.64%
- USD was weaker through the session as risk appetite increased. The AUD rallied to a high of 1.0448 before pulling back
- Gold rallied on USD falls and oil rallied on Iran and economic news
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