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ferncrest
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头衔: 海归少将
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加入时间: 2005/09/14
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作者：ferncrest 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Wall Street should pat itself on the back. For the first time in history, the Dow Jones industrial average surpassed 14,000 on Tuesday, fueled by takeovers, strong earnings and moderate inflation.
After trading above the milestone at several points during the day, the Dow industrials ended up gaining 0.2%, or 20.57, to close at 13,971.55. The blue-chip index, which only passed the 13,000 market in April, is up 30.1% over the past year.
New takeovers assisted the ascent. On Tuesday, the Russian-American billionaire Len Blavatnik's chemical company ba<x>sell announced it would pay $19.1 billion to acquire Lyondell Chemical (nyse: LYO - news - people ). (See " Lyondell Takeover: Blavatnik's Last Laugh") Additionally, Plains Exploration & Production (nyse: PXP - news - people ) is picking up fellow oil and gas producer Pogo Producing (nyse: PPP - news - people ) for about $3.6 billion.
They were a couple more in an already rich flow of deals this year. Private-equity firms and strategic buyers have been snapping up companies all over the marketplace. The buyouts have helped fuel rallies by cutting down on the supply of publicly traded equities. They also give investors a boost of confidence by showing that large buyers are comfortable with current market valuations.
Fresh inflation data was also putting some spring in the Dow's step. The Labor Department released the June Producer Price index Tuesday. While it revealed some conflicting data about rising prices, it was not enough to challenge the thesis that inflation is moderate and won't force a Federal Reserve interest rate increase anytime soon. (See: "Inflation? Outlook Hazy, Ask Again Later")
A third driver Tuesday was optimism about companies' financial performances as we begin earnings season. Merrill Lynch (nyse: MER - news - people ) announced second-quarter earnings Tuesday that beat expectations by 10.9%. The release bodes well for other major financial firms including Citigroup (nyse: C - news - people ) and JPMorgan Chase (nyse: JPM - news - people ). Both are planning to announce second-quarter earnings later this week.
Wall Street is betting that big U.S. companies can enjoy a banner 2007 despite moderate domestic economic growth because of their heavy exposure to more rapidly growing foreign economies. Tractor-maker Caterpillar (nyse: CAT - news - people ), which is scheduled to report earnings Friday, was up 57 cents, or 0.7%, at $86.47 at the close. Intel (nasdaq: INTC - news - people ), was up 38 cents, or 1.5%, to $26.33. Microsoft (nasdaq: MSFT - news - people ) added 75 cents, or 2.5%, to $30.78.
In market news, shares of Rohm & Haas (nyse: ROH - news - people ) jumped after the paint and chemical maker announced it would buy back $2 billion of its stock. Shares of the company surged 9.9%, or $5.54, to a 52-week high of $61.27. (See: "Rohm & Haas & Big Buyback")
作者：ferncrest 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖]Wow Dow -- ferncrest - (2965 Byte) 2007-7-18 周三, 13:26 (883 reads)
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