Dow Tops 14,000 as US Labor Market Shares Positive News (GM, XOM)

Markets were pushed higher after positive data was released regarding employment in the US. The economy added more jobs towards the end of 2012 than was originally reported and as a result the Dow crossed above 14,000 points for the first time since 2007. Nasdaq and the S&P 500 also finished higher for the day. Some of today's top performers included Audience Inc. (ADNC), who gained 17% after reporting Q4 earnings and Perrigo Co (PRGO), who saw shares rise around 5% after releasing quarterly results.
Merck & Co (MRK) was  hit hard after reporting a drop in earnings. The US Justice Department decided to block the merger between Anheuser-Busch InBev (ABI) and Grupo Modelo, believing that the deal would give InBev control of the market. Oil futures were up on Friday and finished with a 2% weekly gain and the dollar fell against the euro following the recent jobs data.

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Published on Feb 1, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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