Space For Rent

Space For Rent
Friday, January 23, 2015, Magh 10, 1421, Robi-Us-Sani 1, 1436 Hijr

US stocks gain for 3rd session
Published : Friday, 23 January, 2015,  Time : 12:00 AM,  View Count : 11

NEW YORK, Jan 22: Wall Street finished higher Wednesday for the third straight session, shrugging off global growth worries in expectation the European Central Bank will announce aggressive stimulus measures Thursday.
Strong earnings by Netflix and UnitedHealth buoyed some of the trade, while IBM shares sank on its poor fourth-quarter report.
The Dow Jones Industrial Average finished up 39.05 points (0.22 per cent) at 17,554.28.
The broad-based S&P 500 added 9.57 (0.47 per cent) at 2,032.12, while the tech-rich Nasdaq Composite gained 12.58 (0.27 per cent) at 4,667.42.
Eyes were on the ECB's policy meeting Thursday, with multiple inside-source reports all but convincing the markets that it would embark on a quantitative easing program of 50 billion euros ($58 billion) a month for purchases of sovereign bonds, to keep longer-term interest rates low.
"They basically leaked the package for tomorrow, so some of the surprise for tomorrow got in the tape today," said Mace Blicksilver, director of Marblehead Asset Management.
Blicksilver said earnings surprises like that of Netflix also fueled the buying.
Netflix shares soared 17.3 per cent after reporting strong profit gains and that its membership rolls expanded by 4.3 million to 57.4 million in the fourth quarter. The streaming video firm said they expect to top 61 million subscribers by the end of the current quarter.
Leading healthcare group UnitedHealth beat expectations for earnings in its fourth quarter, driving its shares up 3.5 per cent.

Editor : Iqbal Sobhan Chowdhury
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