NEW YORK - reports of strong gains of large companies, including Apple Inc. and UnitedHealth Group Inc. lifted stocks across the market Thursday.
The Dow Jones industrial average closed at another high 2011. The 30-company index increased 52.45 points, or 0.4%, to 12,505.99.
"There are a lot of concern out there, but investors are looking now at the bottom line, and that is back," said Yu - Dee Chang, Chief trader at ACE investment strategists, a fund management company based in Virginia.
The standard & poor 500 index gained 7.02 or 0.5%, to 1,337.38. The S & P 500, a point of reference for most of the mutual fund, is now less than 6 points from its high end 2011.
The gains are large. All 10 company groups that make up the S & P index rose, led by a gain of 1% in technology companies.
The Nasdaq composite index increased 17.65 points, or 0.6%, to 2,820.16.
Apple Inc. have increased by 3% after reported sales and earnings late Wednesday who came from before the estimates of analysts. 18.7 Million iPhones sold last quarter million more than expected. Verizon Wireless has started selling phones in February, putting end to three and a half of exclusivity AT & T Inc..
Travelers Companies Inc. have increased by 4%, leading 30 companies in the Dow, after reporting stronger earnings average and an increase in the dividend of 14 per cent. The commercial insurer benefited from a decrease losses arising from claims of the disaster and more businesses buying insurance.
UnitedHealth jumped to 8 per cent after the health insurer said pink profits 13 percent as employees more signed for coverage.
Stronger earnings results were tempered by lower than expected economic reports. The Ministry of labour, said Thursday that the number of persons who have applied for unemployment benefits fell the week last 403 000. Economists had expected a larger decline. A separate report from the Philadelphia Federal Reserve Bank has concluded that the activity in the region of Philadelphia manufacturing declined in April.
Other companies in the index Dow Jones fell after that investors found disturbing signs in their earnings reports.
Fell Corp. McDonald about 2%, despite beat analyst earnings estimates, after the company said it expected the cost of most of its ingredients to increase by 5% throughout the year.
General Electric Co. has dropped by 2 percent, also well beating estimates. The company said revenue for its industrial enterprises grew not as fast as the rivals of the company.
Two stocks rose for all those who have fallen on the New York Stock Exchange. Consolidated volume came to $ 3.7 billion shares.
Markets will be closed Friday for the Friday holiday.
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