U.S. Stocks Increase as Data Spur Speculation on Fed
Story by Bloomberg
Written by Inyoung Hwang
U.S. stocks rose as reports on inflation and jobless claims bolstered speculation the Federal Reserve will act to spur growth and investors awaited an election in Greece this weekend.
Home Depot Inc. (HD) and Intel Corp. (INTC) added more than 1.1 percent to pace advances among the biggest companies. Kroger Co. (KR), the largest U.S. grocery-store chain, climbed 3.4 percent after boosting its profit forecast and announcing a $1 billion share buyback. US Airways Group Inc. (LCC) jumped 4.2 percent after saying it expects “very strong” second-quarter and full-year results.
The Standard & Poor’s 500 Index gained 0.6 percent to 1,322.76 at 10:19 a.m. in New York. The Dow Jones Industrial Average advanced 83.78 points, or 0.7 percent, to 12,580.16 today. Trading in S&P 500 companies was down 22 percent from the 30-day average at this time of day.
“The worse the numbers are in the U.S., the greater the pressure the Federal Reserve will have to increase their monetization plan,” Chad Morganlander, a Florham Park, New Jersey-based money manager at Stifel Nicolaus & Co., which oversees about $115 billion of assets, said in a telephone interview. “There’s a modest amount of optimism that the Greek vote will bode well for the markets. Investors are sitting on their hands waiting for Sunday’s vote.”
Speculation grew that the Fed will discuss stimulus efforts at its meeting next week after reports showed Jobless claims unexpectedly climbed by 6,000 to 386,000 last week and the cost of living fell by the most in more than three years.
http://www.bloomberg.com/news/2012-06-14/u-s-stock-index-futures-little-changed-ralcorp-falls.html
Written by Inyoung Hwang
U.S. stocks rose as reports on inflation and jobless claims bolstered speculation the Federal Reserve will act to spur growth and investors awaited an election in Greece this weekend.
Home Depot Inc. (HD) and Intel Corp. (INTC) added more than 1.1 percent to pace advances among the biggest companies. Kroger Co. (KR), the largest U.S. grocery-store chain, climbed 3.4 percent after boosting its profit forecast and announcing a $1 billion share buyback. US Airways Group Inc. (LCC) jumped 4.2 percent after saying it expects “very strong” second-quarter and full-year results.
“The worse the numbers are in the U.S., the greater the pressure the Federal Reserve will have to increase their monetization plan,” Chad Morganlander, a Florham Park, New Jersey-based money manager at Stifel Nicolaus & Co., which oversees about $115 billion of assets, said in a telephone interview. “There’s a modest amount of optimism that the Greek vote will bode well for the markets. Investors are sitting on their hands waiting for Sunday’s vote.”
Speculation grew that the Fed will discuss stimulus efforts at its meeting next week after reports showed Jobless claims unexpectedly climbed by 6,000 to 386,000 last week and the cost of living fell by the most in more than three years.
http://www.bloomberg.com/news/2012-06-14/u-s-stock-index-futures-little-changed-ralcorp-falls.html
posted by Kirk Tanter at
6/14/2012 10:44:00 am
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