Though falling short of offsetting Monday's decline, stocks managed a slight gain on a day marked by mixed domestic news and some confusing reporting on overseas commentary. Markets started out the day on a high note, only to fall into negative territory on confusing media reports involving Angela Merkel. The German chancellor has been a vocal critic of the Eurobond solution to Europe's debt crisis, but reports that she "will not have shared liability for debt as long as she lives" came as a shock to investors. However, news quickly surfaced that it was not a direct quote, which calmed markets enough to head higher. The Dow Jones Industrial Average
Domestic news was mixed on the day, with encouraging data on home prices conflicting with a discouraging report on consumer confidence from The Conference Board. Specifically, the Case-Shiller home prices index showed annual declines of only 1.9% in April, versus expectations for a 2.3% dip. The report supports the view that prices have found a level of support, with the 0.7% sequential improvement in prices bringing the streak to three months in a row.
Turning to individual stocks, let's look at the three stocks leading the Dow higher today.
Company |
Gain / Loss |
% Gain / Loss |
Closing Price |
---|---|---|---|
Chevron |
1.86 | 1.88% | $100.94 |
General Electric |
0.28 | 1.43% | $19.80 |
ExxonMobil |
1.16 | 1.43% | $82.40 |
The energy sector was a notable leader in today's trading, with the S&P 500's
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