(MENAFN- ProactiveInvestors) Wall Street extended gains today amid optimism over corporate earnings with Berkshire leading financial stocks.
The S&P 500 (INDEXSP:.INX) added 0.4 percent to 2115.37 at 3:41 p.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) advanced 0.3 percent to 18076 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) gained 0.3 percent to 5020.
DATA:
China’s Shanghai Composite Index closed higher today recovering from earlier losses after data showed the country’s manufacturing activity slowed more sharply than forecast.
Factory orders jumped 2.1 percent in March the biggest gain since July. Investors are watching the data for clues as to when the will start raising interest rates.
Wall Street is looking ahead to the nonfarm-payrolls report due on Friday. Forecasters predict job creation in April will bounce back significantly after a disappointing 126000 increase in March which was the smallest in 15 months. A private employment report is also due on Wednesday.
MOVERS:
(NYSE:BRK.A) rose 1.7 percent to 219500.00 after the insurance and investment conglomerate's results beat forecasts.
() advanced 0.8 percent to $58.80 after the largest U.S. cable provider reported better-than-estimated profit and revenue growth in the first quarter after signing up more Internet customers.
Cablevision Systems (NYSE:CVC) a cable operator inched up 0.7 percent to $20.52. The Bethpage New York-based company said its revenue edged 2.5 percent higher in the first quarter though subscriber numbers fell across all of its cable segments from a year ago.
McDonald’s () the world’s largest hamburger chain declined 1.4 percent to $96.45. Chief executive officer Steve Easterbrook outlined his strategy to revive the struggling fast-food chain today unveiling plans to save $300 million a year by accelerating refranchising restructuring under new segments and cutting down on bureaucracy.
() rose 1.9 percent to $41.25 after the food-production company beat profit expectations.
Technology Solutions () added 7.1 percent to $63.30 as earnings beat forecasts and it raised its full-year revenue outlook.
Cyan (NYSE:CYNI) surged 27.7 percent to $4.66. will buy the networking solutions company in a cash-and-stock deal worth $4.75 per share or about $400 million.
ADRs of () a Switzerland-based agribusiness sank 7.5 percent to $72.05 after a media report last week said U.S. seed group () had approached its rival about a takeover.
COMMODITIES:
Gold for June delivery rose 1.1 percent to settle at $1186.80 an ounce on Comex.
June crude settled at $58.93 a barrel down 0.4 percent.
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