Strong earnings propel stocks higher

STRONG earnings reports from Procter and Gamble, Halliburton and other equities propelled US markets higher, pushing the much-watched SP 500 past the 1,500 mark for the first time in five years.

Apple shares lost another 2.4 per cent on Friday and ceded its position as the world’s largest company by market value to ExxonMobil, but that had little impact on overall bullishness.

At the close, the Dow Jones Industrial Average was up 70.65 (0.51 per cent) to 13,895.98, its best level since October 2007.

The broad-based SP 500 continued its streak of gains, adding 8.14 (0.54 per cent) to 1,502.96; the last time it topped the 1,500 level was December 10, 2007.

The tech-heavy Nasdaq Composite Index jumped

Read full article: http://www.nytimes.com/2013/01/26/opinion/blow-rig-the-vote.html

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Source:
http://www.news.ezonearticle.com/2013/01/26/strong-earnings-propel-stocks-higher/