Economy
In reply to the discussion: Weekend Economists Ride With Sally into the Sunset July 27-29, 2012 [View all]Demeter
(85,373 posts)ANY EXCUSE FOR A PARTY--
http://www.bloomberg.com/news/2012-07-27/u-s-stock-futures-advance-before-gdp-report.html
The Dow Jones Industrial Average (INDU) climbed above 13,000, capping its longest weekly advance since January, amid speculation the European Central Bank will buy bonds to help lower borrowing costs and preserve the euro.
Alcoa Inc. (AA) and Caterpillar (CAT) Inc. rose more than 3.1 percent to pace gains in the biggest companies. Merck & Co. (MRK) and Amgen Inc. (AMGN) added at least 4 percent, driving health-care shares higher, as earnings beat estimates. Expedia Inc. (EXPE) surged 20 percent as the online-travel company raised its dividend. Facebook Inc. (FB) fell 12 percent to a record low after its results.
About nine stocks rose for every two falling on U.S. exchanges at 4 p.m. New York time. The Standard & Poors 500 Index advanced 1.9 percent to 1,385.97. The Dow average rallied 187.73 points, or 1.5 percent, to 13,075.66. Both climbed to the highest levels since May and completed three straight weeks of gains. Volume for exchange-listed stocks in the U.S. was 7.9 billion shares, or 18 percent above the three-month average. MORE