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Wednesday August 18, 03:11
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U.S. markets rose for a third session on good inflation data and corporate reports
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(by Dr.Goldfinger)
U.S. markets rose for a third session on good inflation data and corporate reports.
The Dow Jones industrial rose 18.28 points, or 0.18%, to 9,972.83. The Standard & Poor’s 500 Index climbed 2.37 points, or 0.22%, to 1,081.71. The Nasdaq Composite added 12.41 points, or 0.7%, to 1,795.25.
Markets rose after after investors were encouraged by data showing an easing of inflationary pressure and good news from the retail sector.
Shares of Home Depot rose $1.12, or 3.3%, to $35.10. The world’s largest home improvement retailer reported better-than-expected quarterly earnings and raised its full-year forecast to 17% from a previous estimate of 14%.
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Shares of Staples rose 99 cents, or 3.6%, to $28.87, after the top U.S. office products retailer posted a 39% jump in quarterly profit.
Shares of Lowe’s rose 1.1% to $49.69.
Shares of Motorola rose 66 cents, or 4.6%, to $15.08 after a top executive said in an interview that the company expects strong sales growth in the second half of 2004.
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