Indices are Positive on Thursday after Durable Goods Report and Pledge from the ECB (FB, UTX)
Better-than-expected reports late in the day and comments from the European Central Bank's president caused stocks to rise in both the US and global markets. President Draghi said that the ECB would do whatever it takes to support the euro. Social media gamer site Zynga (ZNGA) posted a drop of close to 40% for their quarterly results and Facebook's (FB) first quarterly report as a public company also showed a large loss. US indices advanced after the released information that weekly jobless claims fell to an almost four-year low at 35,000 and durable goods orders were up for the month of June.The US decreased slightly to the euro and increased against the Japanese yen.
Word on the Street
- Social media stocks like Zynga ( ZNGA), Facebook (FB) and Groupon (GRPN) struggle with losses.
- Citigroup (C) says there's a 90% chance Greece will leave the euro in the next 12-18 months.
- Ford (F) announces a recall for 485,000 Escape and Maverick SUVs to fix sticking pedals.
- Talks surface about a deal between Shell and natural gas producer InterOil Corp's (IOC) Papua New Guinea petroleum licenses.
- Overall durable goods orders rose overall for the month of June but capital goods drop.
- 30-year fixed mortgage rate falls below 3.50% for the first time in 60 years.
- United Tech (UTX) agrees to sell industrial unites for $3.46 billion, what will be the company's largest-ever acquisition.
- Ford (F) Posts a 57% Decline in Profits Due to Global Losses.
- 5 things you don't know about Facebook (FB) and how it can be a powerful tool for small businesses.
- Advances in digital technology have changed how creative is made - the myths and truths about what is legal to use and copy.
Published on Jul 26, 2012By InvestorGuide Staff