U.S. stocks rose by opening...
24-05-2011 14:19 GMT (ecPulse)
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U.S stocks rose by Tuesday's opening trading session, paring a one-month drop, following U.S economic news, showed U.S new homes sales inclined in April better than forecasted, in addition commodities rebounded after Goldman Sachs Group Inc attested a positive outlook for raw materials producers.
Meanwhile, Freeport-McMoRan Copper & Gold Inc and AK Steel Holding Corp climbed 2.4 percent and 1.5 percent respectively, on rising precious metals prices by todays trading.
El Paso Corp advanced 6.4 percent, amid plans to spin off its natural gas lines exploration and production unit.
AutoZone Inc rallied 6.3 percent, as profit at the Auto-parts retailer topped estimates, while that GT International Inc hiked 10.4 percent, after the company forecasted full-year earnings that beat projections.
On the other hand, Medtronic Inc declined 2.6 percent, after the company's third quarter earnings trailed market forecasts.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, fell from today's opening level of 76.12 to currently trade at 75.96 recording its highest level at 76.20 and its lowest at 75.85.
Gold prices rose to reach $1526.76 per ounce climbing from the opening price of $1513.89. Oil surged to reach $99.79 after opening at $97.05 per barrel.
The best performing sectors within the Dow were the Oil & Gas shares next to Industrials and Basic Materials shares. The S&P 500's best performing sectors were Oil & Gas, Financials and Industrials shares.
The Dow Jones Industrial Average rose 17.11 points or 0.14 percent reaching 12398.37 points, The S&P 500 rose 3.33 points or 0.25 percent reaching 1320.70 points. The NASDAQ Composite rose 0.22 points or 0.01 percent reaching 2759.12 points. Data as of 09:52 New York Time
