Dow Surges to highest point in almost four years
Thursday, January 26, 2012
The Dow Jones Industrial Average rose to its highest level in almost four years on January 26 as earnings reports released by various blue-chip companies surpassed the expectations of market experts.
The index rose by 0.5 percent to reach 12,819.09, according to data provided by Bloomberg. The S and P 500 index increased by 0.3 percent to reach 1,329.49.
Investor's Business Daily reports the futures for the S and P 500 index were trading 6.1 points higher and Dow futures were 65 points higher.
Time Warner announced earnings above the expectations of market experts and also declared a plan to buy back $4 billion in shares, according to Bloomberg. This news caused the company's stock to surge 6.8 percent.
"The backdrop that is coming forth is a nightmare for those who are way underinvested in U.S. equities," Jeffrey Saut, chief investment strategist at Raymond James & Associates in St. Petersburg, Florida, told Bloomberg in a telephone interview. The U.S. economy is on the upswing and earnings reports continue to exceed analyst expectations.
Individuals who invest in companies represented in indices such as the Dow Jones Industrial Average might benefit from working with discount brokers.
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