Dow Jones Industrial Average rose 102.32 points

Posted by Eka on Jul 24, 2010 | Leave a Comment

Dow JonesThe Dow Jones Industrial Average closed 102 points. This strengthening is continued rally in the stock of the United States.

In trading Friday, July 23 local time, the Dow Jones Industrial Average rose 102.32 points (0.99 percent) to 10424.62 in late trading, after rising by almost two percent, or 200 points, the day before are encouraged to better income of the estimated large U.S. companies.

Despite sharply higher, but some investors look at the result of “stress tests” to European banks as well as quarterly earnings of U.S. companies.

Meanwhile, the Nasdaq technology index gained 23.58 points (1.05 percent) to 2269.47 and the broader S & P 500 index increased 8.99 points (0.82 percent) to 1,102.66.

Committee of European Banking Supervisors assess, seven of the 91 banks that do stress tests, are considered to fail the assessment.

Belgium President praised the level of “high durability” of the European banking sector. But the market is very suspicious of the accuracy of the criteria used to measure the ability to withstand financial shocks.

“This reaction was moderate because of uncertainty about the accuracy of the stress test,” an analysis of Charles Schwab & Co. company.

According to him, on the positive side, the market reacted well to corporate profits better than expected and increased the quarterly dividend 20 percent in the conglomerate General Electric.

Among the companies that claim their financial results, leading car manufacturer Ford, which showed net profit jumps 13 percent to $ 2, 6 billion on strong sales of the second quarter.

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