Thursday, May 19, 2011

U.S. stocks end losing streak on Dell, Fed minutes Federal Reserve minutes show members mixed on rate hikes

yesterday we posted ...

Wall Street hit by economic blues; traders eye bounce.

and dow bounced...and closed near day's high..
U.S. stocks rose Wednesday in a partial bounce-back from their recent slide, as results from personal-computer maker Dell Inc. helped boost sentiment and offset a disappointing forecast from retailer Staples Inc.
The major indexes added to their advance after the afternoon release of minutes from the Federal Reserve’s April meeting, which showed the central bank’s members divided on whether to hike interest rates this year. Read more on Fed minutes.
“The Federal Reserve discussed numerous ‘exit strategies’ at its latest FOMC meeting, but it stressed that these discussions did not entail immediate actions,” said Gregory Daco, U.S. senior economist at IHS Global Insight, in written comments.
The Dow Jones Industrial AverageDJIA +0.65%   quit three days of losses to end up 80.6 points, or 0.7%, at 12,560.18. Out of 30 components, 23 gained, with percentage advancers led by Caterpillar Inc.CAT +0.28%  

Dow Jones Industrial Average

 (DJI: ^DJI )
Index Value:12,560.18
Trade Time:4:01PM EDT
Change:Up 80.60 (0.65%)
Prev Close:12,479.58
Day's Range:12,443.10 -12,571.15
52wk Range:9,596.04 -12,928.50

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