The Joplin Globe, Joplin, MO

Business

July 9, 2013

Stocks head higher for fourth day

NEW YORK — Industrial and raw material companies powered the stock market higher Tuesday for a fourth straight day of gains.

Aluminum maker Alcoa reported second-quarter earnings late Monday that beat analysts’ expectations. The company, considered a bellwether for the economy, benefited from strong demand for aluminum used in autos and airplanes.

Alcoa was the first major company to announce quarterly results.

The Dow Jones industrial average rose 79 points, or 0.5 percent, to 15,304 as of 9:54 a.m. Eastern Daylight Time. The Standard & Poor’s 500 index gained 9 points, or 0.5 percent, to 1,649. The Nasdaq composite rose 10 points, or 0.3 percent, to 3,495.

In government bond trading, the yield on the 10-year Treasury note was little changed at 2.63 percent early Tuesday. The yield has pulled back after surging to 2.74 percent Friday, its highest level in almost two years, after the government reported strong hiring for June.

In commodities trading, the price of oil fell 16 cents, or 0.2 percent to $102.96 a barrel. Gold rose $19.20, or 1.6 percent, to $1,254.40.

Among stocks making big moves:

— Barnes and Noble rose 79 cents, or 4.6 percent, to $18.44 after the bookseller said Monday its CEO is leaving after three years. The company didn’t name a replacement.

— Intuitive Surgical, a maker of robotic surgery systems, plunged $86.52, or 17 percent, to $413.56 after the company forecast disappointing second-quarter sales late Monday.

— WD-40 rose $4.87, or 8.4 percent, to $62.52 after the maker of maintenance products reported earnings that beat financial analysts’ forecasts.

 

1
Text Only
Business
Poll

Missouri Republicans are considering a new approach to prevent federal agents from enforcing laws the state considers to be infringements on gun rights: barring them from future careers in state law enforcement agencies. Do you think this proposal has merit?

Yes
No
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Raw: Church Tries for Record With Chalk Jesus Raw: Faithful Celebrate Good Friday Worldwide Deadly Avalanche Sweeps Slopes of Mount Everest