It has now risen 13% this year versus 14% for the world index and 18% for the U.S. gauge. “Domestically, we’ve had some clearing up of the political problems we had in a minority government,” said Michael McCarthy, chief markets strategist at CMC Markets in Sydney. “We’ve seen the election of the coalition, and that’s certainly seen as a positive for the business community.” Adding to the glow, Chinese trade and industrial production data this week signaled that its economy is stabilizing. Chinese growth was a lackluster 7.5% in the second quarter compared with 7.7% in the first and 7.9% in the final three months of 2012.
Tech stocks: Apple closes below $500
Goldman Sachs, Nike and Visa will replace them in the benchmark 30-stock average. Despite the move and continued struggles in a weakening PC market, HP shares have performed solidly over the past year. The stock price has doubled in value since hitting a 52-week low of $11.71. Activision up. In November, both Sony and Microsoft launch their PlayStation 4 and Xbox One video game consoles, both of which are expected to fuel sales of retail video games.
Dangers of Shorting Stocks on Display This Year
On that basis, US Air is the cheapest — probably due to lingering concerns about what will happen to the stock if it has to abandon the American deal. The average for the group is 10. That’s one key reason why Corridore said US Air is his top pick in the group. But it’s also the cheapest when you look at EV/EBITDAR. It trades for less than 3 times estimates for this year.
European stocks extend rally on Syria vote delay
would attack Syria appeared to fade, sending the Dow Jones industrial average to its fifth day of gains in the last six. Stocks set new highs in early August, but worries over Syria have pushed them lower since then. And even though Syria isn’t a big oil producer, the possibility of a wider conflict in the region drove oil prices to two-year highs last week. On Tuesday, Syria accepted a proposal to put its chemical weapons under international control for dismantling.
Prepare for takeoff! Airline stocks are hot
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Stocks rise as Syria fears recede
More broadly, investors in Europe continued to monitor developments in the Syria conflict, where the risk of a military intervention has receded. U.S. President Barack Obama late Tuesday asked Congress to delay a vote on whether to authorize a strike in Syria after Russia suggested Bashar al-Assads government give up its chemical weapons to the international community to avert an attack. Obama has tried to build support in Congress and internationally to launch an intervention in Syria, after government forces there allegedly used chemical weapons against civilians. U.S.