Exxon Surpasses Apple as Market Leader; S&P's Run is Best Since 2004 (XOM, AAPL)

The S&P extended its gains to what has now become the longest positive streak since 2004. Deutsche Bank (DB) analysts have revised their twelve-month target for the index from 1,575 to 1,600. The Dow is also on it's way to an all-time high while the Nasdaq continued to be dragged down by Apple's (AAPL) stock decline. On Friday Exxon Mobile (XOM) reclaimed its top place in the US markets and surpassed Apple.
In earnings news, Proctor & Gamble (PG) posted profits that beat forecasts. Also extending gains on Friday were the euro on optimistic comments from Mario Draghi, and oil whose run of gains is now the longest in almost four years. Disappointing news came from the housing sector with new-home sales dropping unexpectedly in December. The industry still finished the strongest it has since 2009.

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Published on Jan 25, 2013
By InvestorGuide Staff

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