Financial Sector and Budget Deal Optimism Lead Street Higher (NYX, ICE)

Stocks on Wall Street edged higher on Thursday due to expressed optimism from Speaker Boehner on a budget deal and several positive economic reports. Third quarter GDP in the US was higher than originally expected, rising 3.1% versus previous estimates of a 2.8% gain. Existing home purchases rose 5.9% for the month of November, the fastest monthly rate seen in three years. The increase came mostly from nonfarm private inventories and personal consumption growth. The dollar reached a new high against the Japanese yen, a level last previously seen in April of 2011. NYSE Euronext (NYX) surged today after Intercontinental Exchange Inc. (ICE) announced its purchase for $8.2 billion.
Oracle (ORCL) agreed to acquire Eloqua Inc. (ELOQ) for $810 million. Deutsche Bank (DB) CEO Rene Obermann surprisingly announced that he will be leaving at the end of 2013 after seven years with the company.

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Published on Dec 20, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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