US Stocks rallied Thursday, ending higher for the third-straight session, as investors continued to dig back in after a month long retreat that left the Dow and other major indexes at three-month lows.
A weaker dollar gave a lift to dollar-traded commodities and select blue chips. The morning's regional manufacturing report and Hewlett-Packard's quarterly results added to the gains.
The Dow Jones industrial average (INDU) rose 84 points, or 0.8% according to early tallies. The S&P 500 index (SPX) added 7 points, or 0.7%. The Nasdaq composite (COMP) added 15 points or 0.7%.
Analyst said "The market was due for a rally after all the selling over the last few weeks, so you're seeing a few days of gains. it all makes the recovery look tentative. When that happens, the market doesn't know what to do."
LONDON - European stock markets rose slightly on Thursday after a jittery trading session in which shares went in and out of negative territory following some downbeat economic news.
London's main FTSE 100 index rose 48.45 points, by 0.92 per cent, to 5,325.09 points.
FRANKFURT - The DAX 30 gained 32.07 points, or 0.57 per cent, to 5,680.41.
PARIS - The CAC 40 climbed 22.62 points, by 0.61 per cent, to 3,747.83.
Oil prices rose above $79 a barrel on Thursday as news of stronger regional manufacturing and other upbeat economic reports offset concerns about unemployment.
Benchmark crude for March delivery added $1.73 to settle at $US79.06 a barrel on the New York Mercantile Exchange.
That's the highest settlement for oil in more than a month. The Australian market is expected to open higher, following positive leads from Wall Street and mixed results on commodities markets overnight.
At 0726 AEDT on the Sydney Futures Exchange, the March share price index contract was 40 points higher at 4,665 points.
GOLD down 1.40c to US$1118.70 an ounce SILVER down 3.8c to US$ 16.06 an ounce COPPER rose 4.6c at US$3.2855 a pound
Today's Financial Calendar February 19 2010
Japan BoJ monthly report China markets closed UK retail sales, Jan US consumer price index (CPI), Jan EU euro-zone current account, Dec (AIX) - Interim Results (ASB) - Interim Results (BBG) - Interim Results (BLY) - Full Year Results (CEY) - Interim Results (CMJ) - Interim Results (CTX) - Full Year Results (DUE) - Interim Results (GNS) - Interim Results (HDF) - Full Year Results (MCW) - Interim Results (MIG) - Interim Results (NAB) - Q1 Trading Update (PRT) - Interim Results (PTM) - Interim Results (RIV) - Interim Results (SMX) - Ex div. 12.5c (SPT) - Interim Results (TNE) - Annual General Meeting (DGR) - EGM (10:00 AM) (QSS) - EGM (10:00 AM) (ETT) - EGM (11:00 AM)
Here's the most dangerous habits to have as a trader or investor. If you rely on any of them, please be aware that share trading or investing probably won't work:
Buying a stock when it's trending down. Stocks are usually down in price for a reason.
