Go Finance Report - U.S. stock index (U.S.) again increased. The trigger is a statement of the Fed and the data on retail sales in the holiday season last November have increased.
With trading volumes still low, the index increased a burglar can push the boundaries of resistance and the three major U.S. indices to try out its highest level during the last two years.
The Fed, after doing the last meeting in 2010, saying economic recovery is still too slow to lower unemployment and reaffirmed its commitment to buy government bonds worth $ 600 million. This move pushed bond yields sharply higher and place pressure on the financial sector stocks.
"I am somewhat disappointed that the Fed does not see the world with the same light, as did investors," said Interactive Brokers Group senior analyst Andrew Wilkinson in Greenwich, Connecticut was quoted as saying by Reuters.
The PHLX KBW Bank Index went down 1.5 percent. Regions Financial also fell by 5.3 percent, as well as Marshall & Ilsley fell 3.4 percent.
U.S. retail sales rose in November, and retail companies led stocks to rise. But shares of Best Buy Co. Inc., because not even fall also reported third-quarter financial performance. Best Buy shares fell 14.8 percent to USD35, 52 and pressing the S & P retail index fell 0.5 percent up.
In trading Tuesday (12/14/2010) local time, the Dow Jones industrial rose 47.98 points, or 0.42 percent, to 11476.62. The broader Standard & Poor's 500 index rose 1.13 points, or 0.09 percent, to 1241.59. Likewise with the Nasdaq Composite Index rose 2.81 points, or 0.11 percent to 2627.72. (GoFinance)
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