U.S. stocks rise as Fed FOMC looms; Dow Jones gains 0.13%
Investing.com
Published Nov 03, 2010 10:02AM ET
During early U.S. trade, the Dow Jones Industrial Average eased up 0.13%; the S&P 500 index added 0.12%, while the Nasdaq Composite index gained 0.02%.
Earlier in the day, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in October, after falling by a revised 2K in September. Analysts had expected non-farm private sector employment to increase by 25K in October.
In the financial sector, U.S. listed shares of Lloyds Banking Group soared 3.02% after it appointed the current head of Spain’s largest lender Banco Santander Antonio Horta-Osorio as its new chief executive officer. U.S. listed shares in Banco Santander were down 1.91% following the news.
Meanwhile, in earnings news, shares in internet service provider AOL jumped 6.92% after it said third-quarter profit more than doubled to USD 172 million, up from USD 74 million a year earlier.
Elsewhere, shares in online restaurant-reservation service OpenTable soared 10.39% after it said third-quarter net income rose to USD 5.6 million, beating expectations. The company said third-quarter revenue increased by 44% to USD 24.5 million.
But shares in the world’s largest brewer Anheuser-Busch InBev tumbled 2.99% after it said third-quarter profit fell by 7.2% to USD 1.43 billion, down from USD 1.55 billion a year earlier.
Meanwhile, across the Atlantic, European stock markets were mixed: France’s CAC 40 rose 0.16%; Germany's DAX gained 0.07%; Britain's FTSE 100 eased down 0.02%; while the EURO STOXX 50 shed 0.16%.
Later in the day, the U.S. was set to publish industry data on service sector growth. Meanwhile, the Federal Reserve was to announce its November rate statement. The announcement was widely expected to unveil a fresh round of Treasury bond purchases designed to support the U.S. economic recovery.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.