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by ForexNewsNow Team on July 12, 2010

Dow Jones gains for fifth day as U.S. stocks close up

NEW YORK (Forex News Now) – U.S. stock markets closed up on Monday, after gains in technology stocks outweighed a worse-than-expected report on Chinese imports.

The Dow Jones Industrial Average was up 18.24 points, or 0.18 percent, to 10,216, closing up for its fifth consecutive session.

Meanwhile, the Nasdaq Composite climbed 1.91 points, or 0.09 percent, to 2,198 and the Standard & Poor’s 500-stock advanced 0.79 points, or 0.07 percent, to 1,079.

Analysts earlier raised the ratings of technology giant Microsoft, which gained 2.31 percent, and SanDisk, which rose 6.78 percent.

Also Monday, data showed that Chinese imports slipped from a yearly growth rate of 48.3% in May to 34.1% in June. However, China’s exports proved resilient in June, growing 43.9% from a year-earlier, above market expectations.

 

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By ForexNewsNow Team

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