Stocks edge higher after mixed earnings reports

Best Growth Stock – Last week witnessed the stocks being slightly restricted for the week. This one was owing to that startling bounce in the applications for mixed earnings and unemployment benefits coming from the multinational companies in the United States. Standard & Poor’s 500 wrapped up at about half point lower than 1300. This aided the indexes sum up a little higher.

As the economical crisis was becoming worse gradually, the Dow Jones had not wrapped up above 12,000 ever since June 19 of the year 2008. On Thursday, the Dow Jones industrial average, for almost the entire day traded above the mark of 12,000.

Amongst all the 30 companies, which make up the Dow Jones average, the largest drop was of 2.9 per cent. This drop was of the Procter & Gamble Co. It is to be noted, that the Procter & Gamble Co. is also the producer of many consumer products like Tide detergent etc. As observed, the management of this organization has a saying that the increase in the commodity rates is having a serious negative effect on its profits.

The latest fresh wireless contracts of AT & T Inc. went to a drop at a rate such that it is the least level at which it has ever been in a period of more than five years! Nevertheless, this made the AT&T Inc. fall by 2 per cent. The fourth quarter profit of the Caterpillar Inc. rose went up and gained almost four times the profit. This profit was based on the high demand for mining and construction tools and apparatus worldwide. Hence, the Caterpillar Inc went up by.0.9 per cent.

On the other hand there was a rise of 2.91 points of the S & P. This is equivalent to 0.2 per cent of rise. The day summed up with it to close at 1,299.54. It is to be noted, that August 28, 2008 was the last time the index had closed above 1,300.

The Dow Jones wrapped up at 11,989.83. This means that it climbed up by 4.39 points and by the rate of 0.1 per cent. This made the index, for the first time ever since June of 2008 to go beyond 12000. Nevertheless, it again slipped down in the later that afternoon. It is good to mention that the index has all the way made a profit of 18.5 per cent in the previous year.

In the mean while, there was an addition of 15.78, that is 0.6 per cent in the Nasdaq composite index. It summed up to 2,755.28 on Thursday.

Ever since late October, for the first time the applications for unemployment benefits reached a number beyond 4,54,000 the previous week. It was opposed to the 4,07,000 applications what he economists has anticipated previously. Analysts and economists have their say that it was due to the snowstorms occurring in many parts of the State that the industries and companies are compelled to give away their workers. Nevertheless, it is still believed that this crisis could have been avoided.