Wall Street Sees New Record Highs; Dollar Rises (MS, INTC)

Upbeat corporate earnings and economic data continued to push the markets up for another day on Thursday. It was reported that jobless claims dropped from last week to the fewest since the beginning of May. The manufacturing industry offered signs of growth as several index readings rose. This recent economic optimism pushed the dollar further up against the Japanese yen. Earnings reports that beat estimates included IBM (IBM), who also raised its full-year outlook and Morgan Stanley (MS). On the other hand both Intel (INTC) and Ebay (EBAY) disappointed investors with their forecasts.
By the close of the bell both the S&P and Dow reached new record highs.

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Published on Jul 18, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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