Four-Month High for Wall Street on Thursday, Gap Beats Earnings (GPS, FB)

All three major US indices posted their largest gains in two weeks on Thursday after the German Chancellor affirmed her support of the ECB's strategy and several large corporations reported higher earnings. Good news continued from yesterday for Cisco (CSCO), the Gap (GPS) posted a 29% profit and Sears (SHLD) rallied despite posting an expected loss. Facebook (FB) fell to new lows after it's first lockup period came to an end.
A manufacturing report showed a larger than expected contraction for August and the number of unemployment claims rose over the past week as was anticipated. Oil futures have risen above $95 a barrel, a three month high.

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Published on Aug 16, 2012
By InvestorGuide Staff

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