Slight Surge in US Stocks
U. S. stocks

On Friday, U. S. stocks saw a slight surge on mixed economic data.

The Dow Jones Industrial Average grew 4.23 points, or 0.04%, to 10325.26. The measure gained 2.6% in February, its best month since November 2009, but it is still down 1% year-to-date. The Dow has climbed 10 of the past 12 months.

An improved reading of the U. S. Gross Domestic Product broadly helped lift stocks on Friday. The Commerce Department revised its estimate of fourth-quarter GDP growth to an annual rate of 5.9%, in line with expectations.

Christian Hviid, Director of Asset Allocation at Genworth Financial Asset Management, said the day's jumble of economic data sent mixed messages about the U. S. economic recovery and wary investors are still waiting for signs of stabilization in the Euro zone.

Financial stocks mounted, with J. P. Morgan gaining $1.33, or 3.3%, to $41.97. Bank of America also increased 11 cents, or 0.7%, to 16.66.

Earnings reports helped improve other stocks, including retailer, the Gap, which jumped 1.11, or 5.4%, to 21.50. The retailer also declared plans to raise its annual dividend and launch a $1 billion stock-buyback effort.

Shares of Lloyds Banking Group went down 17 cents, or 5%, to 3.25 after its 2009 pretax loss narrowed. But Lloyds said that its performance will improve in 2010, thanks to a less-risky loan strategy and an improving economy.

Latest News

Knox Receives Less Dental Care Funding
Massive Fight in Sydney Club
Auckland International Airport Keeps a Tab over Flu Activity
On This Valentine’s Day, Lets Help Women in Understanding Ovarian Cancer
Australian Researchers Reveal As to How Cancer Spreads
Keith Martin Breaks Guinness World Record of Fattest Man
Six Months Old Toddlers Understand Basic Communication
Public Place Smoking Ban Reduces Home Smoking Habit
‘Father of Paediatric Gastroenterology’ Appealing To High Court for Justice
BMA Working towards Decreasing Waiting List Patients seeking Organ Transplant
Senior Doctor Accused Of Sexually Assaulting Nurses
5000 Leprosy Cases Identified in Western Pacific