Stocks Stretch Higher, Employment Sours, Google Misses Profit
Stocks stretched higher for the sixth day in a row on strong earnings and merger/acquisition chatter. United Parcel Services lifted its forecast triggering a rise in the transportation sector. Even climbing unemployment claims could not completely squelch the bulls. At the closing bell, Google reported numbers missing some analysts’ profit estimates. The DJIA closed higher by +21.46 to 11144.57, the Nasdaq climbed +10.83 to 2515.69 and the S&P 500 advanced +1.02 to 1211.67.
^ME^: Shares soared 41.96% or $7.59 to $25.68 after a takeover by Apache Corp for $2.7 billion was announced.
^UPS^: Beat estimates and raised its forecast sending shares higher by 5.26% or $3.44 to $68.89.
^ETFC^: Climbed 4.71% or 8 cents to $1.78/share on the CEO’s M&A chatter.
^GOOG^: Closed up $6.30 or 1.07% to $595.30 but is presently selling off hard after hours upon missing some analysts’ profit estimates.
Oil gave back 36 cents to $85.48, gold gained 60 cents to $1160.00 and the VIX index added 1.92% to 15.89.
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