Companies in the consumer sector have brought growth to Wall Street
The good financial performance of Coca-Cola for the last quarter of 2009, and renewed economic optimism of investors, brought strong growth of indexes on Wall Street at the beginning of today’s session, led by consumer companies. Nearly half an hour after the start of trading the index of the 30 largest and most frequently traded U.S. companies stock Dow Jones IA increased by 1.2% to 10 031.28 points, a broad measure of stock S & P 500 added 1 percent to its value to 1 067.59 points. With at least 0.9% to 2 146.08 index points ahead, which brings together companies from the exchange Nasdaq – Nasdaq Composite. In addition to consumer companies to provide better extractive and energy companies because of the strong rise in oil and metals today. Sales in the financial sector at the end of yesterday’s session indexes remained negative territory for the second day. Investors retreated from risky assets in the fiscal difficulties because of the danger of Greece being taken in other European countries. Strong demand in China, Brazil and India offset the decline in the countries of North America and thus the profits of Coca-Cola reported a growth of 55 percent annually during the last quarter of 2009 to 1,5 billion dollars. The manufacturer of soft drinks could increase its market share and its shares have risen by 3.2 percent to 54.35 dollars on the New York Stock Exchange.
Shares of another component of the index, Dow Jones IA – McDonald’s, Increase 0.5% to 63.23 dollars after the U.S. chain of fast food restaurants said its sales increased in January from 2.6 percent on an annual basis. The only economic data today showed that U.S. consumer pessimism to be strengthened in February. This study revealed the research agencies and financial TIPP daily newspaper Investor’s Business Daily. The index of consumer confidence in the IBD / TIPP fell unexpectedly to 46.8 points in February to 48.8 points in January. In August last year, the measure of consumer confidence has returned to the optimistic zone over 50 points, showing improving consumer attitudes. Two months later, the index went down again. The study of IBD / TIPP is held at the beginning of each month among the 900 members in the U.S. and after their assessment of current economic conditions, their expectations for the next six months, and their confidence in the economic policy of the government.
Tags: companies, consumer sector, financial sector, growth, NASDAQ, Nasdaq Composite, sales, Wall Street