FX & CFD trading involves significant risk
U.S. stocks rose, erasing most of this week’s loss in the Standard & Poor’s 500 Index, as data on inflation and jobless claims fueled bets the Federal Reserve will act to spur growth and investors awaited Greek elections.
Speculation grew that the Fed will discuss stimulus efforts at its meeting next week after reports showed jobless claims unexpectedly climbed by 6,000 to 386,000 last week and the cost of living fell by the most in more than three years.
The Labor Department reported today that the consumer price index fell 0.3 percent, more than forecast and the biggest drop since December 2008, after no change the prior month. Economists projected a 0.2 percent decrease, according to the median estimate in a Bloomberg News survey.
Home Depot (HD), the largest U.S. home-improvement retailer, climbed 2 percent to $51.97 and McDonald’s (MCD), the world’s largest restaurant chain, advanced 1.6 percent to $89.40.
International Game Technology rallied 11 percent, the most in the S&P 500, to $14.63. The maker of casino machines authorized a share buyback plan of as much as $1 billion in an effort to reward investors after a 23 percent stock drop this year.
Kroger Co. climbed 4.3 percent to $22.21. The largest U.S. grocery-store chain said profit for the year ending Jan. 31 will be as much as $2.40 a share, up from a prior forecast of as much as $2.38. Kroger also said its board approved a new $1 billion share buyback program, replacing an authorization that was exhausted on June 12.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.