Stocks Are Ripping Higher — Dow Up 265 – Yahoo Finance
Sony ( SNE ) shares were up 3.6% after deciding to pull the release of The Interview, previously set to debut on Christmas Day. On Wednesday, major theater chains including AMC Entertainment ( AMC ) and Regal Entertainment ( RGC ) dropped plans to show the movie after threats from Sony hackers. Oracle ( ORCL ) was up 7.8% after beating second-quarter earnings estimates and posting a 3% gain in revenue. Rite Aid ( RAD ) climbed 14% as quarterly net income beat expectations and same-store sales in its third quarter spiked more than 5%. American Express ( AXP ) had its stock initiated with a “hold” rating and $95 price target by Jefferies analysts.
Stocks surge as oil continues rise; Dow up 225 pts – Yahoo Finance
The rally in stocks comes after the S&P 500 on Wednesday had its best day of the year . That came after the Federal Reserve’s latest policy announcement, which saw the Fed say it would be “patient” in raising interest rates. Earlier Thursday, we got initial jobless claims data that beat expectations. Initial jobless claims fell to 289,000 from last week’s 295,000, which was expected by economists. Also Thursday, we got the flash reading on service sector activity from Markit Economics, which fell to 53.6 from 56.2 in November.
Stocks rally again on Europe, oil – Yahoo Finance
The Nasdaq added 66.14 points, or 1.5 percent, to 4,709.14. For every share falling, more than three rose on the New York Stock Exchange, were 264 million shares traded as of 11 a.m. Eastern. Composite volume neared 1.4 billion.
Stocks rally in the wake of Fed patience on rates
That has RAD up 10 percent in early trading. AK Steel rose 8 percent on a strong report as well. Oracle announced better-than-expected earnings and revenue, sending its shares up 5 percent. Jabil Circuit also climbed more than 5 percent after profit exceeded estimates. Aside from the pop in oil, gold and silver both rose almost 1 percent, while copper fell 0.6 percent.
Equities came off session highs, however, as oil turned lower. “The reality is markets were hit with we’re not sure what’s happening and why, as oil has been acting as something akin to a global interest rate. The good news is the Fed is aware of what is going on, and they want to be friendly, so people are hopefully in better cheer,” said Jack Caffrey, equity portfolio manager at J.P. Morgan.