US close: Dow gains for sixth consecutive week
Posted on: 18 Aug 2012 by Polly York

US stocks closed moderately higher on Friday on the back of some better-than-expected economic data, meaning that both the Dow Jones Industrial Average and the S and P 500 registered their sixth straight week in the blue; the Nasdaq meanwhile made its fifth consecutive weekly gain.

The University of Michigan-Thomson Reuters consumer-sentiment index rose from 72.3 to 73.6 in August, better than forecasts of no change. Meanwhile, the Conference Board’s leading economic index increased by 0.4% in July, better than the 0.3% growth estimate.

Markets were also reacting to comments from German Chancellor Angela Merkel who yesterday backed proposals by European Central Bank President Mario Draghi. She said his idea of buying sovereign debt to bring down bond yields in indebted nations was ‘completely in line’ with the view of euro-area officials.

Apple hits an all-time high

Shares in tech giant Apple rose to a record on Friday after a Jefferies research report said that the company has started production of a new ‘iPad mini’. Meanwhile, the broker said that the upcoming launch of Apple’s iPhone 5 will be the biggest handset launch ever.

Fashion retailer GAP advanced after raising its full-year earnings per share guidance from $1.78-1.83 to $1.95-2.00, as it reported a higher-than-forecast increase of 29% in second-quarter earnings. ??

Elsewhere in the retail universe, sporting apparel group Foot Locker was in demand after profits beat consensus forecasts for the tenth quarter in a row. ??

Chip maker Marvell Technology was under the weather after results from its second quarter came up short of forecasts.

S&P 500 – Risers
Metropcs Communications Inc. (PCS) $10.03 +5.14%
J. M. Smucker Co. (SJM) $82.96 +5.05%
Ralph Lauren Corp (RL) $159.79 +4.85%
Gap Inc. (GPS) $35.99 +4.80%
Phillips 66 Common Stock (PSX) $42.77 +3.86%
GameStop Corp. (GME) $18.57 +3.28%
Seagate Technology Plc (STX) $35.67 +3.03%
Edwards Lifesciences Corp. (EW) $100.43 +2.69%
NRG Energy Inc. (NRG) $21.54 +2.62%
Zions Bancorporation (ZION) $19.70 +2.44%

S&P 500 – Fallers
McKesson Corp. (MCK) $86.42 -2.54%
Alpha Natural Res (ANR) $6.45 -2.27%
Sealed Air Corp. (SEE) $13.58 -1.88%
Newfield Exploration Co (NFX) $32.35 -1.85%
Perrigo Company (PRGO) $106.93 -1.84%
Life Technologies Corp. (LIFE) $46.48 -1.75%
Dun & Bradstreet Corp. (DNB) $82.14 -1.69%
Advanced Micro Devices Inc. (AMD) $4.10 -1.68%
PulteGroup Inc. (PHM) $13.38 -1.62%
Cerner Corp. (CERN) $72.56 -1.61%

Dow Jones I.A – Risers
United Technologies Corp. (UTX) $80.37 +2.03%
Travelers Company Inc. (TRV) $65.13 +1.72%
Caterpillar Inc. (CAT) $90.01 +1.60%
Bank of America Corp. (BAC) $8.00 +0.88%
Home Depot Inc. (HD) $56.73 +0.75%
3M Co. (MMM) $94.24 +0.53%
Walt Disney Co. (DIS) $50.46 +0.42%
Microsoft Corp. (MSFT) $30.90 +0.39%
American Express Co. (AXP) $57.59 +0.38%
Boeing Co. (BA) $73.91 +0.37%

Dow Jones I.A – Fallers
Merck & Co. Inc. (MRK) $43.34 -1.37%
Intel Corp. (INTC) $26.33 -0.98%
Pfizer Inc. (PFE) $23.79 -0.96%
Johnson & Johnson (JNJ) $67.80 -0.59%
Chevron Corp. (CVX) $112.66 -0.58%
JP Morgan Chase & Co. (JPM) $36.98 -0.32%
Exxon Mobil Corp. (XOM) $88.40 -0.30%
General Electric Co. (GE) $21.00 -0.24%
Alcoa Inc. (AA) $8.75 -0.23%
Wal-Mart Stores Inc. (WMT) $71.99 -0.22%

Nasdaq 100 – Risers
Seagate Technology Plc (STX) $35.67 +3.03%
Flextronics International Ltd. (FLEX) $6.81 +2.71%
eBay Inc. (EBAY) $46.87 +2.36%
Fossil Inc. (FOSL) $89.80 +2.29%
Fastenal Co. (FAST) $44.31 +2.17%
Viacom Inc. Class B (VIAB) $51.02 +2.16%
Activision Blizzard Inc. (ATVI) $12.10 +1.85%
Apple Inc. (AAPL) $648.11 +1.85%
Citrix Systems Inc. (CTXS) $78.08 +1.60%
Bed Bath & Beyond Inc. (BBBY) $66.56 +1.54%

Nasdaq 100 – Fallers
Marvell Technology Group Ltd. (MRVL) $10.54 -14.17%
Warner Chilcott Plc (WCRX) $16.99 -2.64%
Perrigo Company (PRGO) $106.93 -1.84%
Life Technologies Corp. (LIFE) $46.48 -1.75%
Cerner Corp. (CERN) $72.56 -1.61%
Celgene Corp. (CELG) $69.11 -1.61%
Texas Instruments Inc (TXN) $29.86 -1.35%
Sears Holdings Corp. (SHLD) $59.49 -1.33%
Alexion Pharmaceuticals Inc. (ALXN) $102.31 -1.25%
Biogen Idec Inc. (BIIB) $145.09 -1.19%

BC

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