Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 6:56:34 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Strong Earnings Propel Rally

Posted Apr 18, 08 3:22 PM CDT in Business 

(Newser) – Stocks rallied to weekly gains today as the markets absorbed last night's strong earnings report from Google and industrial multinationals Caterpillar and Honeywell recorded unexpected first-quarter growth, Bloomberg reports. Google propelled the Nasdaq up 61.14 to close at 2,402.97. The Dow rose 228.87 to 12,849.36, and the S&P 500 climbed 24.77 to 1,390.33. All the indices saw 4%-5% weekly gains.

Caterpillar and Honeywell said their earnings rose 13% and 22%, respectively, in the first quarter. Following the pattern of Merril Lynch and JP Morgan, who rallied this week after reporting bad-but-contained first-quarter losses, Citigroup’s stock rose 7.7% despite a dismal Q1 report because the bank performed better than the gloomiest predictions.

Sources: Bloomberg, MarketWatch, Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Dow Extends Rally, Rises 247

    Nov 26, 08 3:20 PM CST
    Dow Extends Rally, Rises 247 The markets extended a winning streak into a fourth session today, despite mostly dismal economic data, the Wall Street Journal reports. Consumer spending and orders for durable goods fell over the last month, but the Dow closed up 247.14 points at 8,727. The Nasdaq rose 67.4 points to close at 1,532, and the S&P 500 gained 30.28 points, settling at 888.
    More »

  • Dow Up 397 on Positive News

    Nov 24, 08 3:22 PM CST
    Dow Up 397 on Positive News Stocks rallied today in a vote of confidence for the $326 billion Citibank rescue plan and Barack Obama’s team of economic advisers, MarketWatch reports. Combined with Friday's surge, the rally was the largest 2-day jump in over 20 years. The Dow rose 396.97 points to close at 8,443.39. The Nasdaq surged 87.67, closing at 1,472.02, and the S&P 500 gained 51.78 points, settling at 851.81.
    More »

  • Dow Up 494 on Geithner Pick

    Nov 21, 08 3:23 PM CST
    Dow Up 494 on Geithner Pick News that Barack Obama’s will nominate Timothy Geithner, head of the New York Fed, as Treasury Secretary buoyed stocks today, although the major indices all lost value for the week, MarketWatch reports. The Dow closed up 494.13 at 8,046.42. The Nasdaq gained 68.23 to settle at 1,384.35, and the S&P 500 rose 47.59, closing at 800.03. More »

  • Dow Plummets 400+ Again

    Nov 20, 08 3:32 PM CST
    Dow Plummets 400+ Again Stocks continued yesterday’s slide today as Congress dashed hopes for quick aid to the Detroit automakers, MarketWatch reports. Henry Paulson also undermined investor confidence by again changing the terms of TARP. The Dow fell 444.99 points to close at 7,552.29. The Nasdaq shed 70.30, closing at 1,316.12, and the S&P 500 lost 54.14 to settle at 752.44.
    More »

  • Earnings Push Stocks Lower

    Oct 21, 08 3:35 PM CDT
    Earnings Push Stocks Lower Stocks fell today as a wave of poor earnings soured investor confidence across the board, though the continued drop in interbank lending rates kept losses in check, the Wall Street Journal reports. The Dow closed down 231.77 at 9,033.66. The Nasdaq fell 73.35 to 1,696.68, while the S&P 500 slipped 30.35 to settle at 955.05. More »

Caterpillar heavy machinery is lined up at Milton Cat in Richmond, Vt., Wednesday, April 16, 2008.   (AP Photo/Toby Talbot)
Traders move around the floor of the New York Stock Exchange in the minutes before the closing bell in this undated file photo.   (AP Photo/Richard Drew)
A Citibank sign is shown in New York in this Nov. 27, 2007 file photo.   (AP Photo/Mark Lennihan, file)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 3)

Tags

Google • Dow Jones • S&P 500 • Nasdaq • Citigroup • first quarter earnings • Caterpillar • Honeywell


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »