NEW YORK - widespread gains in energy of lift of the prices of products and materials companies in a broad market stock rally Wednesday after three days of decline. Built on the gains of the morning after the federal reserve stocks released minutes which showed that officials have agreed that the economy is improving, which could lead to an increase in demand for raw materials such as steel and fertilizer.
Binding of the Fed purchase program has kept interest rates low and envoys of the commodity and stock of the overall price since late August. US stock market attracted nearly 25% since the Central Bank reported that it would begin the plan for the purchase of goods. Commodity prices were dropped in the two weeks after months of gains on concerns about the impact of high prices of energy on the economy.
Oil has won about 4% to bring over $ 100 per barrel, due in part to a report from the Department of energy that crude oil stocks have no place last week, as expected. Stocks of energy such as Chevron Corp., and Exxon Mobil increased nearly 2%.
The Dow Jones industrial average added 80.60 points, or 0.6%, to close at 12,560.18. The S & P index 11.70 rose or 0.9%, to 1,340.68. The Nasdaq composite gained 31.79 or 1.1%, to 2,815.
The commodity prices halted their slide after floods damaged fields of wheat, corn and soy, with traders anticipating that a shortage of supply would lead to higher prices. Companies of materials in the S & P 500 has increased by 2.1%, led by a gain of nearly 5% of the CF Industries Holdings. The company sells fertilizers.
Stock indices increased slowly in the morning trade as investors tried to make sense of mixed earnings reports. Reports of Dell Inc. and Staples Inc. sent contrasting messages on how much businesses spend. Dell solid results suggest that businesses spent more on technology, but Staples report suggested companies were reluctant to draw on the cash for basic needs such as office supplies.
"Companies spend in the technology sector to improve productivity," says Kim Caughey, research analyst actions at Fort Pitt Capital Group. "But in the field of business supply, they could not buy quite as many paper clips."
Dell jumped 6 percent after the computer maker reported late Tuesday that its income almost tripled on the lower costs and better profit margins. Strong sales of servers, storage and business computers devices has also contribute to its results. Tech another company, Analog Devices Inc., rose 6 percent after the chip maker, said its profit jumped 44 percent.
Staples plunged 15 percent after the Office supply company reported that sales were lower than investors expected. The company also lowered its gains of the year of the forecast. Target Corp. fell 1.6% after the company also reported low sales. CEO Gregg Steinhafel said target buyers are "safe" on spending.
The release of the minutes Fed sent bond prices lower because some members of the Central Bank said it might start easing of interest rates higher this year is to protect against inflation. Led to higher price performance of the 10-year Treasury note to 3.17% to 3.12% late Tuesday. Bond prices rise when their returns in the fall.
Four stocks rose for all those who have fallen on the New York Stock Exchange. Consolidated volume came to $ 3.5 billion shares.
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