Bloomberg reports that U.S. stocks rose, adding to yesterday’s gains, as Fed Chair Ben S. Bernanke said the economy has shown signs of improvement and data showed claims for American jobless benefits fell last week.
MasterCard Inc., the second-largest payments network, jumped 6.6 percent as profit climbed 24 percent. Qualcomm Inc., the biggest maker of mobile-phone chips, added 2.8 percent after raising its sales and earnings targets. Green Mountain Coffee Roasters Inc., the maker of Keurig brand single-cup pods and brewers, increased 18 percent as profit exceeded estimates. Viacom Inc. fell 4.1 percent as profit plunged 65 percent.
The Standard & Poor’s 500 Index rose 0.2 percent to 1,326.56 at 10:27 a.m. New York time. The gauge rallied 0.9 percent yesterday. The Dow Jones Industrial Average fell 1.13 points, or less than 0.1 percent, to 12,715.33 today.
“It’s a great time to be placing your bets and seeding your garden because we’re fixing the problems,” John Manley, chief equity strategist for Wells Fargo Advantage Funds in New York, said in a telephone interview. His firm oversees $211.5 billion. “It’s going to take a while, it’s going to be frustrating sometimes, but there’s progress being made. If you believe the U.S. economy is going to get better, you want to own stocks….”
Read all about it at http://www.businessweek.com/news/2012-02-02/u-s-stocks-rise-as-bernanke-sees-signs-of-economic-improvement.html
No comments:
Post a Comment