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Major stock indices climb

04 February 2009 07:30 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Major stock indexes jumped more than 1 percent Tuesday, and the Dow Jones industrials rose more than 140 points as some of the dayâ€™s data turned out to be more upbeat than expected. Still, analysts cautioned that the economy will keep showing fresh bruises in the coming months and that stock trading will remain volatile, AP reports.
According to preliminary calculations, the Dow Jones industrial average rose 141.53, or 1.78 percent, to 8,078.36.
Broader stock indicators also rose. The Standard & Poorâ€™s 500 index rose 13.07, or 1.58 percent, to 838.51, and the Nasdaq composite index rose 21.87, or 1.46 percent, to 1,516.30.
The Dow and the S&P 500 had fallen for the past three sessions.
The Russell 2000 index of smaller companies rose 3.29, or 0.73 percent, to 452.90.
Losing stocks outnumbered gainers by 3 to 2 on the New York Stock Exchange, where volume came to a light 1.35 billion shares.
Companies reporting results were mixed. Merck rose $1.81, or 6.4 percent, to $30.24, while Schering Plough rose $1.44, or 8.2 percent, to $18.91. D.R. Horton jumped $1.31, or 21 percent, to $7.42, and UPS rose $2.58, or 6.1 percent, to $45.
Motorola fell 50 cents, or 11 percent, to $4.04.
Among financials, PNC Financial fell $2.33, or 7.2 percent, to $29.85. Bank of America Corp. fell 70 cents, or 12 percent, to $5.30.
Regional banks saw some of the biggest selling. SunTrust Banks Inc. fell $1.93, or 16 percent, to $10.02, while Fifth Third Bancorp fell 30 cents, or 14 percent, to $1.79.
Britainâ€™s FTSE 100 rose 2.13 percent, Germanyâ€™s DAX index rose 2.43 percent, and Franceâ€™s CAC-40 rose 1.79 percent. Japanâ€™s Nikkei stock average fell 0.62 percent.