| U.S. Stocks Rise Turned |
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| Wednesday, 10 February 2010 09:49 | |||
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New
York - U.S. stocks rose on Tuesday turned the local time of huge losses
a day earlier because of financial market tensions meredanya together
with fears over the euro zone debt crisis.
Stock blue-chip Dow Jones Industrial Average jumped 150.25 points (1.52 percent) to finish at 10,058.64, a day after closing below the key 10,000 level for the first time since Nov. 4. The Nasdaq composite index rose 24.82 points (1.17 percent) to 2,150.87 and the broad market index Standard & Poor `s 500 rose 13.78 points (1.30 percent) to 1070.52. The market roared higher from the opening as investors believed the European Union, according to the report, will move to overcome debt problems the euro zone centered around Greece. Shares "remove some red ink obtained since the beginning of the debt problem in the euro zone countries was reduced by speculation European officials may close the plan to help the Greek efforts to control its deficit," said analysts at Charles Schwab & Co. in a note. Germany, the eurozone's biggest economy, is preparing a plan to help aid the struggling Greek solve a very large debt, the Financial Times Deutschland reported. In the Wednesday edition, the newspaper said German Finance Minister Wolfgang Schaeuble was working on both bilateral basis and at the European level to put a package together to help Athens. Debt and deficit problems of Greece, Spain and Portugal - which are all included in the 16-country eurozone - is also expected to be high in the key EU agendapertemuan on Thursday. News that the president of the European Central Bank (ECB) Jean-Claude Trichet has left the central bank governors meeting in Sydney early to attend the EU summit in Brussels sparked the belief that a deal was in progress. Some analysts remain skeptical. "We're not sure why there would be relief for the help," said Patrick O'Hare from Briefing.com. "An aid package may help suppress some spekulat interest in failed credit swap (default) global market terrible, but still not really the core of the problem that the government spends more than collecting taxes," he said. Benchmark to measure the risk of European bank debt rose to a seven-month high Tuesday amid concerns the budget deficit in Greece, Portugal and Spain, which some fear could also have an impact on other nations and destabilizing the global economic recovery. "We may see that help in the short term rally pushed, which would be acceptable, but do not expect the pattern of` V `on the U.S. stock market to ease debt problems of Europe," said Frederic Dickson, chief markets strategist for DA Davidson & Co.. Among the stock rises, the U.S. drinks giant Coca-Cola, rose 2.58 percent to 54.01 dollars as net profit surged 55 percent in the fourth quarter, lifted by sales volume growth in China, India and other key emerging markets. Electronic Arts fell 8.75 percent to 15.96 dollars after the video game giant is offering the prospect of worse than expected for the current quarter and fiscal year. McDonald `s rose 1.03 percent to 63.57 dollars as the reported global sales spike in January, exceeding some analysts estimate. American Airlines rose 8.33 percent to 13.80 dollars after Japan Airlines said it would maintain the existing alliance with U.S. airline, rejected an approach from rival Delta Air Lines, up 10.13 percent to 12.39 dollars. Bond market declined slightly. Results in U.S. bonds 10-year rose to 3.633 percent from 3.592 percent Monday and the 30-year bonds is higher in 4.568 percent from 4.522 percent. Bond prices and yields move in opposite directions. | antaranews.com | tenderoffer.biz |
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