Go Finance Reporting in NEW YORK - The Dow Jones closed the transport sector at the highest point of all time on Thursday local time, until the leading stock in the United States (U.S.) higher. This is a signal higher profits due to economic demand.
On average, the Dow Jones Industrial (DJI) rose 72.35 points, or 0.57 percent to 12763.31. The broader Standard & Poor's 500 (SPX) edged up 4.82 points, or 0.36 percent, to 1360.48. While the Nasdaq Composite Index (IXIC) rose 2.65 points, or 0.09 percent to 2872.53.
Reported by Reuters on Friday (04/29/2011), the Dow Jones Transportation Average (DJT) Up 1.2 percent to 5510.06, led by shares of Norfolk Southern company that jumped eight percent to USD73, 87 after reporting strong results.
Investors also have the expectation of strong gains after the S & P 500 through 1344 on Tuesday. However, with the volume of data that is weak and faltering economic recovery that still raises the question of how quickly the S & P can go beyond the next milestone in 1400.
On the other hand, there are also some signs of cost pressures from the results of several companies such as Procter & Gamble Co. that lowers profit forecast due to cut costs and increase prices to offset rising raw material costs. Its shares were up 0.8 percent at USD64, 50.
In addition, decreased earnings reports are also a blow to the economy due to data showing U.S. economic growth has slowed and labor markets may be weakened.
However, The Federal Reserve has maintained its support for an easy monetary policy, which helped boost equity prices in the face of rising inflation. (GoFinance)
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