Dow once again hits 12,000 as stocks rise
The Dow Jones Industrial Average once again briefly surpassed the 12,000 point threshold as U.S. stocks, driven by strong earnings reports, are up slightly. The mid-morning increase comes in spite of a report from the Labor Dept. that jobless claims in the U.S. had increased to 454,000 in last week.
The Dow rose slightly by 0.08 percent, while the S&P 500 index is up by .03 percent and the Nasdaq rose by 0.24 percent.
The 10-year bond yield is up slightly by 0.01 percent in the wake of a downgrade of Japan’s debt rating by Standard & Poor’s. Oil futures are down 0.46 percent. Gold remains unchanged.
AT&T (NYSE: T), in the shadow of a looming battle with Verizon for Apple’s popular iPhone, is down 2.87 percent after reporting a lower-than-expected number of new subscribers in the fourth quarter. Proctor & Gamble (NYSE: PG) is down 1.76 percent after reporting lower-than-expected sales growth in the fourth quarter.
Shares of Home Depot (NYSE: HD) and Lowe’s Cos. (NYSE: LOW) are up 1.24 percent and 1.23 percent, respectively, in the wake of a stronger-than-expected new U.S. home sales in December.
Caterpillar, Inc. (NYSE: CAT) is up 1.33 percent after reporting a 62 percent growth in sales in the fourth quarter from same period in 2009.
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