Wall Street Has Strong Day as Dow Touches Intraday High (FSLR, JCP)
Markets rose for the second consecutive day Tuesday as the Dow briefly reached a new all-time high of 14,716.46. Investors' first impressions of the earnings season were positive, with blue-chip tech stocks seeing solid gains. Shares of First Solar (FSLR) shot up almost 50% as the company announced that it expects 2013 earnings to blow away analyst predictions. On the down side, J.C. Penney (JCP) slid 12% on news that CEO Ron Johnson was relieved of his duties by the board.Investors will be looking for hints Wednesday about the future of quantitative easing as the Fed is expected to release its latest meeting minutes.
Word on the Street
- Sources indicate that Walt Disney Company (DIS) is planning to lay off nearly 150 employees in the near future.
- Boeing (BA) announced plans to invest $1 billion to expand its South Carolina 787 factory.
- The U.S. EIA predicts that the average cost of gasoline will be lower this summer than a year ago.
Published on Apr 9, 2013By InvestorGuide Staff