Tuesday, May 27, 2014

Apple Shares Rise, U.S. stocks Print Record Again

Stocks on Wall Street closed in the green zone , on Tuesday ( 05/27/2014 ) local time (Wednesday morning GMT ) , as good as some of the economic data the United States ( U.S. ) . S & P 500 index recorded a new closing record for the second consecutive session ,

The Dow Jones Industrial Average closed up 69.23 points ( 0.42 percent) at 16,675.50 . Then the tech- heavy Nasdaq jumped 51.26 points ( 1.22 percent) to 4237.07 .

While broad -based index of the S & P 500 added 11.38 points ( 0.60 per cent ) to end at 1911.91 . On Friday the index closed above 1,900 for the first time . U.S. markets were closed on Monday for a public holiday .
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Recent U.S. economic data showing a rise in consumer confidence for May , startling increase in durable goods orders for April and an increase in house prices for March on the S & P / Case - Shiller that many monitored .

Wells Fargo Advisors mention economic data " gives hope " in the market .

Director Mace Blicksilver of Marblehead Asset Management , said the rally in technology stocks is a sign of improved sentiment .

Technology companies that include Apple's posted a 1.9 percent increase , Facebook rose 3.5 percent , 5.2 percent and increased Priceline Tesla Motors rose 2.1 percent .

U.S. chicken producer Pilgrim Pride announced an offer to acquire meat and frozen food Hillshire Brands in a deal worth 6.4 billion U.S. dollars , with the condition to cancel the proposed takeover Hillshire Pinnacle Foods 6.6 billion U.S. dollars .

Hillshire said the company prepared for the proposed takeover of Pinnacle , but promised to study the offer .

Hillshire shares jumped 22.1 percent , up 1.7 percent and the Pilgrim Pinnacle slumped 5.4 percent .

Bank of America rose 3.4 percent as the company resubmit its capital plan to the Federal Reserve requires banks to hold its shareholder distribution .

Maker of Botox , Allergan , released a presentation that attacks Valeant Pharmaceuticals in the latest attempt to thwart an unsolicited takeover bid . The company raised a variety of issues , including Valeant 's ability to promote Allergan products and extensive turnover in the management of Valeant . Allergan shares fell 1.1 percent , while Valeant dropped 2.6 percent .


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