Wall St Rises on Telecom Strength, Spending

Wall St Rises on Telecom Strength, Spending


The strength in the telecommunications and an eight straight monthly rise in the spending by the consumer boosted the U.S Stocks. In the recent weeks the market volatility has increased because of the nuclear disaster in Japan and the civil issue in the north Africa and in the middle east. This makes the investors to watch the headlines closely for the trading cues to be cautious. It is expected that there will be some earnings coming out early in April. Janna Sampson the co –chief investment officer at Oakbrook Investments LLC in Lisle, Illinois said that the there will be some good earnings which might finally give a little more upside. The spending of the U.S consumer has rose slightly more than the forecast in February where inflation accelerated at its fastest pace sine June 2009. Robert W.Baird upgraded a number of companies which includes the Dow component AT&T inc and the Verizon communications INC the S&P telecom sector GPST role 1.5 percent. It is after the deal of AT&T to buy T-Mobile USA which was completed and the two companies Verizon and ST&T should benefit from one competitor.
While Verizon rose up 1.4 percent to 37.80 dollars AT&T rose 2 percent that is to 29.44 dollars. The pending U.S home sales have rose last month unexpectedly which gains 2.1 percent. It breaks the negative data which is the recent trend in the sector and the stocks showed a little impact from the data. The DJI that is the Dow Jones Industrial Average has gained 20.58 point or 0.17 percent that is to 12,241.17. The SPX that is Standard & Poor’s 500 index added 0.14 percent or 186 points to 1,315.66. The NASDAQ composite index that is IXIC rose 2.09 points or 0.08 percent to 2, 745.15. The Eastman Kodak was the second most active stock on the New York stock exchange and it rose up 11.5 percent to $3.79. This rise was after a U.S trade panel in the United States agreed to review a case last week that could bring this photography company which struggle more hundreds of millions of dollars as royalties. The case stems from a patent claim which was against the research in Motion and Apple Inc. U.S listed the shares of Research in Motion to 1.2 percent to 56.20 dollars and Apple shares edged up 0.3 percent to 352.50 dollars.

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