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Stocks Close Higher on Wednesday, Led by Energy and Durable Goods (NWSA, BCS)

By: , dated June 27th, 2012
On Wednesday, US stocks rose after a government report that durable goods orders were higher than expected, the first gain since February. The 10-year bond yield increased to 1.62%. The dollar increased to $1.246 against the euro but fell to 79.70 to the yen. US oil prices returned to above $80 per barrel, the rally helping to accelerate US gains in stocks. Pressure continues to mount on European leaders as the recession deepens and investors remain concerned about the upcoming summit. Five of the largest banks in the US, including JPMorgan Chase (JPM), Bank of America (BAC) and Goldman Sachs (GS) are in the process of untangling their operations and creating ‘living wills.’ UK bank Barclays (BCS) agreed to pay more than $450 million in fines after admitting to the Libor manipulation allegations.

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