MORNING BUSINESS MINUTE, THURS. APR. 27, 2006
By:
Updated: April 17, 2007
Talk about good news -- we saw strong earnings, a broker upgrade on General Motors, gains in homes sales, and dropping oil prices. In all -- quite a few indicators the economy remains very strong.
Investors still worried about interest rates -- but optimism won the session.
The Dow finished at a six-year high, gaining +71.24 (+0.63%) to close at 11,354.49. The NASDAQ added +3.33 (+0.14%) to close at 2,333.63 and the S&P 500 added +3.67 (+0.28%) to finish at 1,305.41.
Local stocks split the session. Wal-Mart (WMT) added +0.77% to close at $45.98. AllTel (AT) gained +0.79% to close at $63.90. Tyson Foods (TSN) added +5.10% to close at $14.42. JB Hunt (JBHT) lost -1.36% to close at $23.97 and Acxiom (ACXM) lost -0.72% to close at $26.20.
We have two economic numbers today -- initial jobless claims and the help wanted index.
Quarterly reports come from Microsoft, Exxon-Mobil, Glaxo-SmithKline, Daimler-Chrysler and Raytheon, just to name a few we`ll look at today.
Overseas in Asia, the Nikkei added +103.69 (+0.6%) to reach 17,159.62 at the mid-day break in Tokyo. The broader Topix added +14.48 (+0.8%) to reach 1,737.77. Back in the U.S., in extended hours trading, the NASDAQ 100 Afterhours Indicator fell -0.69 (-0.04%) to close the night at 1,701.51.
