US stocks climb on McDonald’s earningsBy DPA, IANS
Tuesday, February 8, 2011
NEW YORK - US stocks posted gains Tuesday on strong sales from McDonald’s and other retailers, overshadowing the Chinese central bank’s decision to raise interest rates.
McDonald’s shares gained more than two percent after the fast-food giant said sales were up in January. Shares of other major retailers, including Amazon.com and Home Depot, also gained amid private data indicating that sales are increasing.
The blue-chip Dow Jones Industrial Average remains at its highest level in more than two years, adding 71.52 points, or 0.59 percent, to 12,233.15. The broader Standard and Poor’s 500 Index gained 5.52 points, or 0.42 percent, to 1,324.57. The technology-heavy Nasdaq Composite Index was up 13.06 points, or 0.47 percent, to 2,797.05.
The US currency dropped against the euro at 73.41 euro cents from 73.6 euro cents Monday. The dollar inched higher against the Japanese currency to 82.36 yen from 82.32 yen the previous day.