US stocks edge up on home sales figures, tech earningsBy DPA, IANS
Thursday, January 27, 2011
NEW YORK - The Dow Jones Industrial Average inched ever closer to the 12,000-point mark as US stocks rose slightly Thursday because of home sales.
A US industry group said sales of previously owned homes rose in December for the third straight month, while strong earnings reports from mobile phone chip manufacturer Qualcomm and video rental site Netflix pushed up technology stocks.
The blue-chip Dow climbed 4.39 points, or 0.04 percent, to close at 11,989.83. The benchmark index topped 12,000 points Wednesday for the first time since 2008, but also failed to close above the symbolic mark.
The broader Standard and Poor’s 500 Index rose 2.91 points, or 0.22 percent, to 1,299.54. The technology-heavy Nasdaq Composite Index added 15.78 points, or 0.58 percent, to 2,755.28.
The US currency fell against the euro to 72.8 euro cents from 72.93 euro cents Wednesday. The dollar climbed against the Japanese currency to 82.91 yen from 82.17 yen Wednesday.