The Dow Jones closed higher on the back of good earnings show by some of the blue chip companies in the United States. The fourth quarter earnings were expected to be a key trigger for the United States indices in the next few weeks.

Most of the analysts expected these profit statements of the United States companies to be higher in the fourth quarter and that will be one key growth for the United States economy going forward. They also felt that this earnings season would help the Dow Jones as well as other United States indices to break out of their long term resistance levels and move higher.

Most of the stock markets in the world are trading at some multi year highs and that is a great sign that the index would be able to cross this resistance level. The Dow Jones has found itself so difficult to cross 13500 mark in the past. But, from the past few days we have seen that the index is trading above that level. That is a good sign and if we see a weekly close above this 13500 mark, we may see more highs in the next coming days.

Some analysts feel that the stock markets have moved so swiftly this year and it is time to book profits as we may see some bit of down move followed by some consolidation.

Clark Yingst, chief market analyst at the securities firm Joseph Gunnar, said, “This market is really stretched. We\’ve essentially gone straight up since January 2. There\’s certainly room for people to take profits.” But, some of the analysts argue that the break out has just happened and there is more to come on the index.

Stocks to watch out for:

Advanced Micro Devices is in the news today after the company released its earnings statement today. The company posted a less than expected loss and that made the shares of the company soar. The company also posted higher revenue and that too, topped street expectations.

Investors cheered this news and most of them thought that the company would see a turn around in its financial structure. Shares of the company jumped 11 percent to close at 2.73 dollars per share making it the biggest gainer in the S & P 500 today.

Coach is also in the news after the company released its earnings. The company’s results came in well below expectations and the management commentary was quite weak. The company said that the economy is still quite challenging and risks remain for this luxury hand bag maker.

Cost reduction by other companies in this sector like Michael Kors, etc. made the demand for Coach’s hand bags to come down. The stock plunged nearly 16 percent to close at 50.75 dollars per share.

McDonald\’s Corporation also released its earnings today and the company posted its highest ever quarterly profit. The revenue and profit figure came in slightly above the market expectations and that made the stock to move up by around 0.5 percent to close at 93.48 dollars per share.

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Category: Finances
Keywords: Dow Jones, United States, ASX, Dollar index, Brent Oil, Apple, Mcdonald\\\’s, Coach, Earnings