Positive Housing Reports Lift Stocks on Wednesday (ADBE, WMT)

Both global and US markets gained after the Bank of Japan announced easing of its monetary policy and US home sales increased to a rate higher than any during the last two years. The housing reports are encouraging but investors wonder if the recovery is sustainable. Oil prices dropped for a third day in a row on further comments from Saudi Arabia, ending at a six-week low. In after hours trading, Adobe Systems (ADBE) reported higher profits but also an outlook that appears weak. Questcor Pharmaceuticals (QCOR) saw a large decline after Aetna Inc. (AET) decided to limit coverage of a main product.
The dollar gained slightly against the euro but decreased to the Japanese yen.

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Published on Sep 19, 2012
By InvestorGuide Staff

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