Article published November 14, 2009
Earnings data propel stocks after down day
ASSOCIATED PRESS
NEW YORK - Encouraging earnings news from major retailers and Walt Disney Co. drew investors back into the stock market one day after a drop.
The Dow Jones industrial average gained 73 yesterday after sliding 94 on Thursday.
Upbeat quarterly reports from Abercrombie & Fitch Co., J.C. Penney Co., and Disney offset worries about a disappointing consumer confidence report.
The market briefly stumbled in morning trading after the preliminary Reuters/University of Michigan consumer sentiment index for November came in at 66.0, down from 70.6 in October.
But stocks rebounded, and the Dow rose to 10,270.47. The Standard & Poor's 500 index gained 6.24 to 1,093.48. And the Nasdaq composite index climbed 18.86 to 2,167.88. For the week, the Dow rose 2.5 percent, the S&P 500 index 2.3 percent, and the Nasdaq 2.6 percent.
Permanent Link
|
|
 |
|
Search
advertisement
