Alcoa (NYSE:AA) and Caterpillar (NYSE:CAT) are leading the Dow Jones Industrial Average to the fourth straight week in positive territory. For the month the Dow has gained 8.2 percent so far.
At 12:47 PM EDT, Alcoa was at $12.18, gaining $0.44, or 3.71 percent. Caterpillar stood at $79.89, an increase of $3.63, or 4.76 percent at the same time.
Perceived economic stability and upward revisions in durable-goods orders and sales of new homes for July seem to be the catalyst for the upward move, as August figures show durable-goods orders and sales of new homes were weaker than expected.
Orders for manufactured goods increased in August as well, and news that business confidence in Germany also added to the positive sentiment.
As has been happening throughout September, a large number of equity investors have seemed to pick and choose the economic news they wanted to include in making decisions, and ignore the many bits of news that created a mixed bag at best.
The Dow was at 10849.77, up 187.35, or 1.76 percent at 12:52 PM EDT.
No comments:
Post a Comment