Wednesday, October 14, 2009

10,000 points above the sea


10,000 for First Time in Over a Year

.S. stocks rallied, sending the Dow Jones Industrial Average above 10,000 for the first time in a year, on better-than-estimated earnings at JPMorgan Chase & Co. and Intel Corp. Oil climbed, while the Dollar Index slid to the lowest level since August 2008 and Treasuries fell.

JPMorgan added 3.3 percent as a surge in fixed-income revenue helped the bank increase profit almost sevenfold. Intel, the world’s largest chipmaker, rose 1.7 percent after its sales forecast topped estimates by as much as $1 billion. Macy’s Inc. and Nordstrom Inc. gained on a government report that showed retail sales fell less than economists forecast last month.

No comments: