Wednesday, July 14, 2010

US stocks surge

UPBEAT reports from Alcoa and CSX to open earnings season are sending US stocks higher for the sixth straight day.

The better-than-expected profits from aluminium producer Alcoa and railway operator CSX are helping push the Dow Jones industrial average up 99 points.

The pair say volume and sales are improving, a welcome sign during a period where most economic reports showed the economy was expanding but at a much slower pace that many traders had hoped.

The Dow is up 98.72 points, or 1 per cent, at 10,314.28. The Standard & Poor's 500 index is up 8.91, or 0.8 per cent, at 1087.66, while the Nasdaq composite index is up 22.88, or 1 per cent, at 2221.24.

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US stocks surge



US stocks surgeStocks slide on weak jobs report