(menafn – ecpulse)
US stocks managed to continue its rise within the day to close green, as optimism found place in markets following the IMF’s announcement, Spain’s bond auction and the upbeat first quarter earnings from Goldman Sachs, Coca-Cola and Johnson & Johnson.
The International Monetary Fund (IMF) raised its global growth forecast after seeing faster U.S. growth and a coordinated effort in Europe to address its debt crisis, noting that Spanish bond auction witnessed a rising demand today to lower tensions after the rise in borrowing costs.
The Dow Jones Industrial Average index gained 194.13 points or 1.50% to close at 13115.54 levels, the index reached the highest point at 13131.36 and the lowest point at 12921.79, By closing 30 shares all inclining.
The Standard & Poor’s 500 Index added 21.21 points or 1.55% to close at 1390.78 levels, the index reached the highest point at 1392.76 and the lowest point at 1369.57, By closing 472 shares inclined while 26 shares declined and 2 shares remained unchanged.
The NASDAQ Composite Index inclined 54.42 points or 1.82% to close at 3042.82 levels, the index reached the highest point at 3052.76 and the lowest point at 2999.49, By closing 1808 shares inclined while 555 shares declined and 171 shares remained unchanged.
On the other hand, Major U.S companies, such as Goldman Sachs, Coca-Cola and Johnson & Johnson posted better the forecasted 1Q 2012 earnings to overshadow the mix performance that was seen in U.S housing data today, as Building permits rose above forecasts, while housing starts fell below expectations during the month of March.
In regard of the shares performance on Tuesday morning, shares of Financial Sector rose led by Bank of America Corp and Citigroup Inc, which rose more than 1.7 percent, following the gains in European lenders after the IMF boosted the global growth projections.
While shares of Coca-Cola Co inclined by 2.7% after reporting 0.89 per share earnings during the first quarter beating markets expectations of 0.874, noting that Goldman Sachs rose by 0.2% after posting 3.92 a share better than expected 3.550 per share.
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, returned to opening levels as sentiments improved in markets to currently trade at 79.54 after recording its highest level at 79.74 and it’s lowest at 79.38.
Gold prices dropped to reach 1639.99 per ounce up from the opening price of 1651.67, while Oil prices surged to trade near today’s highest levels to reach 104.65 per barrel after opening at 103.11 per barrel.