This Day On The Street
Continue to site
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

Dow Closes Above 12,000 as Greece Drops Bailout Vote

September factory orders increased 0.3% after a revised 0.1% rise in August, according to the Commerce Department. The Institute for Supply Management's services index for October suggested the service sector continues to grow. The index came in 52.9, marginally weaker than expectations, after a reading of 53 in September.

Overnight, a report said that weaker investment in Chinese real estate dragged down growth in China's services sector in October. Japan's Nikkei Average finished 2.25% lower, and Hong Kong's Hang Seng lost 2.49%.

Stocks extended Wednesday's rally. The market took a breather from a sharp selloff earlier in the week, with the help of better-than-expected U.S. jobs numbers and the Federal Reserve's indication that more monetary easing would follow if necessary.

Gold for December delivery gained $35.50, or 2.1%, to settle at $1,765.10 an ounce. In other commodities, the December crude oil contract jumped 1.7%, adding $1.56 to settle at $94.07 a barrel.

Standard & Poor's recently lifted its 12-month target for the S&P 500 to 1360 from 1260, although it does not recommend boosting exposure to U.S. stocks yet because of lingering concerns in Europe.

Late Thursday, AIG (AIG - Get Report) posted a loss of $4.1 billion, or $2.16 a share and an operating loss of $1.60 a share. Wall Street had projected a loss of 30 cents a share. The stock closed Thursday's session 1.8% higher at $24.63.

LinkedIn (LNKD) reported a third-quarter loss of $1.6 million, or 2 cents a share late Thursday, and said revenue rose to $139.5 million from $61.8 million, previously. On an adjusted basis, the company earned 6 cents a share. Consensus estimates called for a loss of 4 cents on revenue of $127.6 million, according to Thomson Reuters. Ahead of its earnings report, the stock gained 3.6% to close at $87.50.

NYSE Euronext (NYX) rose 6.1% to $27.o after it said third-quarter profit rose 54% to $186 million on strong trading volumes. NYSE is still in talks with European regulators to receive clearance for its $9 billion merger with Deutsche Boerse.

-- Written by Chao Deng and Melinda Peer in New York.
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AIG $62.08 -0.43%
BA $139.98 -0.53%
HPQ $30.72 0.64%
AAPL $126.25 -0.28%
FB $87.09 0.21%

Markets

DOW 17,718.96 -38.95 -0.22%
S&P 500 2,073.06 -4.36 -0.21%
NASDAQ 4,999.0930 -14.03 -0.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs