Investors back after the shares to print a higher rate of return towards the end of the year. They, too bright to use the momentum projection from FedEx to chase stocks.
In trading Thursday (12/16/2010), the Dow Jones Industrial Average (DJIA) closed rose 41.78 points (0.36%) to the level 11499.25. The broader Standard & Poor's 500 index also gained 7.64 points (0.62%) to a level of 1242.87 and the Nasdaq rose 20.09 points (0.77%) to a level of 2637.31.
Freight company, FedEx Corp. announced an increase in its profit projections until the end of the year, despite record revenue and earnings in the quarter missed expectations. FedEx shares rose 2% was recorded, while his rival, United Parcel Services was up 2.1%. The Dow Jones Transportation Average rose 1.3%.
"The fact that FedEx did not achieve the target revenue outlook overshadowed by the powerful, and this is a good indicator that we are looking forward to the improved economy," said Kimberly Foss, President of Wealth Management Empyrion as quoted by Reuters on Friday (17/12/2010) .
Economic data helped provide a positive mood. Manufacturing activity in the middle Atlantic region the U.S. rose unexpectedly in December, with unemployment claims fell in the second week. Increased housing construction, but permits for new construction fell at its lowest in 1.5 years.
But shares of Visa Inc. and MasterCard Inc. declined in large volume after the Federal Reserve issued a proposal that would force banks and credit card networks to cut costs from the perital for debitnya card. Visa shares slumped 13%, MasterCard is down 10%.
Stocks BlacBerry manufacturer, Research in Motion rose 1.8% after the release of financial reports third-quarter 2010.
Trading of shares is still not too crowded, with transactions on the New York Stock Exchange as much as 7.54 billion shares, below the average this year of as much as 8.62 billion shares.
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