U.S. stocks Gain as Oil Retreats; HP Report
NEW YORK - U.S. stocks rose the most in a week on Monday, in anticipation of better-than-estimated earnings while oil retreated from record highs, and a late afternoon report that Hewlett-Packard Co. is near a deal to buy Electronic Data Systems Corp. for as much as $13 billion.
US Stock market rallys on revised Bear Stearns dealThe S&P 500 Index added 15.3 points, or 1.1 percent, to 1,403.58. The Dow Jones Industrial Average increased 130.43, or 1 percent, to 12,876.31. The Nasdaq Composite Index rose 42.97, or 1.8 percent, to 2,488.49.
The Nasdaq Composite helped the broader market advance, with tech stocks following the lead of BlackBerry maker Research in Motion which soared 6.9 percent to an all-time high on the release of its 3G BlackBerry Bold device. Apple gained 2.6 percent saying its online store had run out of iPhones, which fueled speculation that a new improved iPhone is due out soon.
Hewlett-Packard dropped 4.7 percent, in the wake of an afternoon report by the Wall Street Journal that the technology giant could unveil as early as Tuesday an agreement to acquire EDS.
Retail stocks, such as Macy's and JC Penney posted big gains as crude oil prices slumped on the New York Mercantile Exchange.
Crude oil finished at $124.23 a barrel, down $1.73 for the session.
- 1 Nick Jonas and Selena Gomez- Disney Love in the Air
- 2 Citibank First Introduces Multi-Functional Octopus Credit Card
- 3 Hong Kong Inflation Skyrockets, Jumps Up to Highest in 11 Years
- 4 Revolutionary Configuration Tool to Dramatically Reduce Network Design Time for SI and ISP.
- 5 Christian Bale arrested, released; denies assault
- 6 HKs anti-money laundering efforts hailed
- 7 Paulson says financial stability is top priority
- 1 Paulson says financial stability is top priority
- 2 Yahoo 2Q profit erodes but not as badly as feared
- 3 Wa Wa Woes
- 4 Obama vows to work for Mideast breakthrough
- 5 Beijing has first workday under car restrictions
- 6 Hong Kong consumer prices rise 6.1%
- 7 SOHO China shares rose as new Beijing project good pre-sales
- 1 Hong Kong market gives up gains to end lower
- 2 Vast oil, natural gas reserves estimated in Arctic
- 3 Stocks fall after sales of existing homes decline
- 4 PRECIOUS METALS: Gold drops sharply as oil tumbles, dollar gains
- 5 Hong Kong stocks rise on oil decline, Wall Street
- 6 Oil extends decline, drops below $128
- 7 Fed's Plosser Comment Helps Strengthen U.S. Dollar
|
|
