Dow Heads for Five-Year High as Consumer Confidence Tumbles (AMZN, F)

On Tuesday it was reported that consumer confidence in the US fell more than was forecast to the lowest level in over a year. This drop coincides with the recent increase in payroll tax and declining optimism for future employment. It was also shared that home prices were up in November by 5.5%, the most since August 2006. After the bell, Amazon (AMZN) released Q4 earnings that showed a net profit of $97 million, 45% less than one year earlier, but an increase from Q3. Shares of Ford (F) tumbled after the company predicted a large loss in European sales in 2013.
Health-care company Pfizer Inc. (PFE) beat expectations for the fourth quarter and surged on Tuesday. The financial sector also had a good day with Goldman Sachs (GS) leading the industry higher. Oil rose to a four-month high, reaching $97 a barrel on Middle Eastern unrest and fears of supply.

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Published on Jan 29, 2013
By InvestorGuide Staff

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