This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Lifted by Earnings, Consumer Confidence

Stocks in this article: ^DJI ^GSPC ^IXIC

NEW YORK ( TheStreet) -- Stocks had a strong finish to the day after all three major indices hit 52-week highs on a better-than-expected read for April consumer confidence and encouraging earnings reports.

The Dow Jones Industrial Average finished up by 115 points, or 0.9%, at 12,595. The S&P 500 was higher by 12 points, or 0.9%, at 1347, and the Nasdaq was ahead by 22 points, or 0.8%, at 2848. The indicies all hit 52-week highs Tuesday.

Consumer confidence rose to a better-than-expected level of 65.4 in April after a March reading of 63.8, the Conference Board said. According to Briefing.com, economists had been forecasting an April reading of 64.4.

"The gain over the last month, while not substantial, is nonetheless encouraging given the recent spike in food and fuel prices," said Jim Baird, partner and chief investment strategist for Plante Moran Financial Advisors in a recent note. "The survey suggested that inflation expectations actually eased a bit, while consumers viewed current broad economic conditions more favorably for the seventh consecutive month."

Baird added that inflationary pressures pose the biggest near-term risk to consumer confidence and spending since higher prices could force consumers to make budget cuts, thereby slowing the pace of economic recovery.

Shares of airline carriers and railroads ended with some of the strongest gains, with SkyWest ( SKYW ) up 2.9% to $16.26 and RailAmerica (RA) 2.9% higher at $17.13.

On the Dow, Cisco Systems (CSCO), Caterpillar (CAT), Intel (INTC), Microsoft (MSFT), Merck (MRK) and United Technologies (UTX) were traded at the top. Stocks such as W&T Offshore (WTI), Kindred Healthcare (KND), Carpenter Technology (CRS) ended ahead by 18%, 18% and 10%, respectively, as they hit 52-week highs.

Coca-Cola (KO), which missed expectations with adjusted earnings of 86 cents a share and sales of $10.51 billion, was the Dow's biggest laggard. The stock fell 1.2% at $66.93.

Basic materials stocks showed some of the weakest performance of the session. Shares of United States Steel (X) lost 4.1% at $49.72 after the company posted a wider-than-expected loss in the first quarter .

Shares of AK Steel (AKS), however, rose 6.4% to $16.96 after the steel producer posted a surprise profit of 8 cents a share .

Dow component 3M (MMM) surpassed Wall Street's expectations with earnings of $1.49 a share on sales of $7.3 billion. The stock gained 1.9% to $95.94.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,891.88 +87.08 0.49%
S&P 500 2,070.43 -0.22 -0.01%
NASDAQ 4,767.6210 +2.2410 0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs