AmEx Leads Dow Back in Black

Posted by admin on Mar 2nd, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

AmEx Leads Dow Back in Black Blue-chip stocks' run into positive territory for the year faltered, though the market did manage to hold onto a small daily gain, helped by an upbeat announcement from American Express and strength in commodities. The Dow Jones Industrial Average was recently up 12 points, or 0.1%, at 10416, helped by a 0.8% gain in AmEx after Chief Executive Kenneth I. Chenault said credit quality in the company's credit-card loans is improving. At its intraday high, the Dow was up 29 points for the year, its first push into positive year-to-date territory since January. However, the measure has trimmed its gains in recent action, leaving it down 12 points for the year. Many investors avoided big bets ahead of a key data due later in the week, especially Friday's figures on U.S. employment. Now that fourth-quarter earnings season is past, investors are focusing more on economic data and moves by governments world-wide to normalize economic and monetary policies following the global financial crisis. The other two major stock averages, which broke into positive territory for 2010 on Monday, added to those gains in recent action.[Read more...]

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