Dow Up 110 After Mid-Morning Dip
The Dow rose 110.24 points today, settling at 17,962.38, after a late-morning surge saw profits rise on an unexpectedly high trade volume. NASDAQ also rose, up 56.43 points to 4,857.61. The S&P 500 gained 19.95 points to finish the day at 2,088.48. Markets were also up across the world, with Germany's DAX and Japan's Nikkei standing out as big winners. The DAX rose 170.15 points to 10,919.65, while the Nikkei was up 333.10 to finish the day at 17,969.72.
Cisco Systems Stock Up After Beating Earnings Shares of computer network equipment manufacturer Cisco Systems (CSCO) rose 2.54 points today, after it became public that Cisco was due to exceed Q4 sales forecasts by 11%.
Expedia, Orbitz, TripAdvisor Snap Recent Downward Trend Online travel had a good day, as three of the sector's biggest players all saw better than expected growth in the previous quarter. Expedia (EXPE) was up 11.35 points to close at 89.57, TripAdvisor (TRIP) jumped 15.13 points to close at 82.40, and Orbitz Worldwide (OWW) gained just over 2 points to close the day trading for 11.72 per share.
Exxon and General Electric Find Ways To Be Profitable Through a mix of diversification, restructuring, and a lot of layoffs, both Exxon (XOM) and General Electric (GE) are making the best of a bad year for oil. Both companies were up today despite $50 per barrel oil becoming the new norm. Exxon Mobile (XOM) rose 1.77 points to end trading at 92.37 per share, and General Electric (GE) was up just 0.22 points, shoring up 5-day gains to 1.59% and closing at 24.89.
Visa And MasterCard Up, AmEx Down The credit card industry was mixed but trending positive today, with Visa (V) and MasterCard (MA) making gains while American Express (AXP) dipped. Visa added 4.92 points to close at 270.91, MasterCard was up 3.06 points to 87.53, and American Express fell 5.53 points today to finish trading at 80.48 per share.
Financial Sector Makes Gains Goldman Sachs (GS) was up 2.13 points today, closing at 36.90 and continuing a 5-day trend that has seen share prices rise nearly 5%. Other major financial institutions, like Morgan Stanley (MS) and Charles Schwabb (SCHW) also had an up day as the sector as a whole rose almost 2%. Morgan Stanley gained 0.53 points to finish at 36.90, and Charles Schwabb added 0.91 points to close at 29.96 per share.
Currency and Commodities The price of oil continued to dance around $50 today, rising slightly to end the day's trading at $51.21 per barrel. Gold and silver were both up slightly, to $1,220.20 and $16.84 per troy ounce, respectively. The price of staples fell across the board, corn dipped to $383.00, soy was down to $983.25, and wheat fell to $520.50, all per metric ton. The US Dollar weakened across the board today, gaining ground only on the Euro.