U.S. stocks joined a global advance, sending the Dow Jones
Industrial Average toward the biggest monthly rally since October, after
European leaders reached an agreement that alleviated concern banks will fail,
Bloomberg reports
All 10 groups in the Standard & Poor’s 500 Index rose as
industrial and technology shares had the biggest gains. Citigroup Inc. (C) and
Bank of America Corp. rallied at least 3.1 percent as European lenders surged.
Alcoa Inc. (AA) and Exxon Mobil Corp. (XOM) added more than 2.2 percent as
commodities jumped. KB Home (KBH) climbed 12 percent as the homebuilder
reported a narrower loss. Nike Inc. (NKE) tumbled 8.2 after profit unexpectedly
declined.
The S&P 500 jumped 2.1 percent to 1,356.34 at 2:22 p.m.
New York time, rallying 3.5 percent in June. The Dow added 232.46 points, or
1.8 percent, to 12,834.72, extending its monthly gain to 3.6 percent. The
Nasdaq Composite Index climbed 2.7 percent, the most in 2012, to 2,926.16.
Trading in S&P 500 companies was 9.9 percent above the 30-day average at
this time of day.
More? Check out http://www.bloomberg.com/news/2012-06-29/u-s-stock-futures-gain-after-eu-deal-to-stem-debt-crisis.html
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