Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Dell Inc.    DELL

DELL INC. (DELL)

SummaryQuotesNewsCompany 
News SummaryMost relevantAll newsSector newsTweets 

Washington's positive tone cheers Wall Street for a day

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/17/2012 | 12:50am CEST

Hope that politicians would find common ground to steer clear of the "fiscal cliff" boosted stocks on Friday, though the gains were not enough to offset the week's losses.

Stocks recovered from early declines after leaders of the Senate and House emerged from a meeting at the White House and indicated they would be flexible in efforts to settle fiscal policy differences.

Democrats said they recognized the need to curb spending and Republicans said they had agreed to put "revenue on the table" following a meeting with President Barack Obama.

For the week, the S&P was down 1.5 percent, its second week in a row of losses. The Dow lost 1.8 percent, down for the fourth straight week, while the Nasdaq was lower for the sixth week, also losing 1.8 percent.

"These are very small steps in the right direction," said Kate Warne, investment strategist at Edward Jones in St Louis.

"The more evidence there is that Congress will make a decision sooner, the more likely we are to see stocks rebound."

About $600 billion of automatic budget cuts and tax increases will start to take effect in the new year unless Washington reaches a deal. With memories of 2011's debt ceiling impasse fresh in investors' minds, many are worried this year's discussions could be drawn out or yield no agreement.

If all the changes go into effect, economists say it could tip the economy into recession. Investors have pulled out of stocks over the past two weeks, taking nearly 4 percent off the S&P 500.

The Dow Jones industrial average <.DJI> added 45.93 points, or 0.37 percent, to 12,588.31. The Standard & Poor's 500 Index <.SPX> rose 6.55 points, or 0.48 percent, to 1,359.88. The Nasdaq Composite Index <.IXIC> gained 16.19 points, or 0.57 percent, to 2,853.13.

Shares of Penn National Gaming Inc (>> Penn National Gaming, Inc) surged 28.2 percent to $48.23 on its busiest day of trading in more than four years, after the owner of gaming and pari-mutuel properties said late Thursday it will split its business into a gaming-focused real estate investment trust and a gaming operator.

More than 10 million shares changed hands, compared with average daily volume of 629,000 shares over the past 50 days.

Dell Inc (>> Dell Inc.) helped limit the Nasdaq's gains after lower PC sales hurt the company's profit. Dell slumped 7.3 percent to $8.86.

More violence in the Middle East also kept investors wary after Palestinian militants nearly hit Jerusalem with a rocket for the first time in decades and fired at Tel Aviv for a second day.

Sears Holdings Corp (>> Sears Holdings Corporation) late Thursday reported a quarterly loss that was narrower than expected, but same-store sales fell on weak demand for electronics, sending shares down 18.8 percent to $47.49.

Volume is expected to be light next week with some investors away for the Thanksgiving holiday, and the market closed on Thursday and open for only a half-day on Friday.

The decreased liquidity could spell more intra-day volatility for the market, though fewer market participants could also mute action.

Volume on Friday was roughly 7.52 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, well above the year-to-date average daily closing volume of about 6.52 billion.

Advancers outnumbered decliners on the NYSE by 2,258 to 784 on the New York Stock Exchange. On the Nasdaq, advancers also had the upper hand by 1,446 to 997.

(Editing by Kenneth Barry)

By Leah Schnurr

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DELL INC.
02/22 DELL : Ships First Recycled Ocean Plastics Packaging in Its Industry
02/16 DELL : EMC Simplifies Hybrid Cloud Adoption with New Hyper-Converged Infrastruct..
01/31 DELL : SecureWorks Drives Managed Security Services Market with Managed Detectio..
2016 DELL : EMC Expands High Performance Computing Portfolio with Advances in Cloud, ..
2016 DELL : The New Alienware 13 Marks the Arrival of the World’s First 13-inch..
2016 DELL : EMC State of IT Trends 2016 Federal Study Reveals Impact of Digital Trans..
2016 DELL : EMC Unity Increases Efficiency And Lowers All-Flash Storage Costs By 4x ...
2016 DELL : EMC Brings the Power of Flash and Cloud Tiering to Industry's #1 Protecti..
2016 DELL : EMC XtremIO Shatters Customer and Revenue Growth Records
2016 DELL EMC DSSD D5 : Enterprise Analytics - Let the Transformation Begin
More news
Sector news : Computer Hardware - NEC
05/27DJCompanies Quit Share Splits -- WSJ
05/26DJAmazon's Brush With $1,000 Signals the Death of the Stock Split
05/26DJLENOVO : Resets to Regain Its PC Crown -- WSJ
05/25DJLENOVO : China's Lenovo Reboots After Losing PC Crown to HP
05/25 LENOVO : China's Lenovo says will not phase out its own phone brand
More sector news : Computer Hardware - NEC
Advertisement
Sector and Competitors
1st jan.Capitalization (M$)
DELL INC.0.00%0
APPLE INC.32.85%800 898
HEWLETT PACKARD ENTERP..-18.63%31 231
HP INC23.79%31 229
SEAGATE TECHNOLOGY PLC11.42%12 616
PEGATRON CORPORATION--.--%7 897
More Results