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Market Wrap-up Report for May 21, 2013
Tuesday, May 21, 2013
STOCKS CLIMB TO NEW RECORD HIGHS AS INVESTORS REACT TO EARNINGS AND DOVISH COMMENTS OUT OF THE FEDERAL RESERVE. THOSE STORIES AND MORE NEXT.
DOVISH COMMENTS OUT OF THE FED FUELING TUESDAY GAINS ON THE DOW FOR THE 19TH STRAIGHT WEEK.
THE DOW JONES INDUSTRIALS UP 52-POINTS, THE S&P 500 GAINING 3 - BOTH INDEXES CLOSING A NEW RECORD HIGHS. THE NASDAQ UP 6, CLOSING AT THE HIGHEST LEVEL IN MORE THAN 12-1/2 YEARS.
MERCK LEADING GAINERS ON THE DOW - MERCK'S STOCK JUMPING 4-1/2 PERCENT ON THE DAY. HOME DEPOT ALSO HELPING LIFT THE INDEX HIGHER - HOME DEPOT UP 2-1/2 PERCENT ON ITS BETTER THAN EXPECTED EARNINGS.
JP MORGAN CHASE'S STOCK UP 1-1/2 PERCENT AFTER JAMIE DIMON RETAINED HIS TITLES AS CEO AND CHAIRMAN OF CHASE.
THE MARKET TODAY SEEMINGLY MORE AT EASE ABOUT THE FUTURE OF THE FEDERAL RESERVE'S BOND BUYING PROGRAM. THAT FOLLOWING COMMENTS FROM FED BANK PRESIDENTS BULLARD AND DUDLEY... BULLARD SAYING THAT THE FED SHOULD CONTINUE WITH THE PRESENT QUANTITATIVE EASING PROGRAM.
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