U.S. stocks bounced back modestly Monday, as investors drew confidence from weekend deals and early earnings reports ahead of a week packed with corporate results and stocks regained some of their equilibrium following Friday’s sharp decline.
Better-than-expected earnings from Delta Air Lines and Halliburton helped boost expectations for the week’s crop of earnings releases, which will include 128 companies within the Standard & Poor’s 500 index.
In early trading, the Dow Jones Industrial Average gained 41 points, or 0.4%, to 10139, reversing some of its sharp losses on Friday, when the measure fell 261 points in its biggest drop of the month.
The Nasdaq Composite gained 0.6% to 2193 and the S&P 500 rose 0.5% to 1071.
Oilfield services company Halliburton, the first major oil drilling company to report second-quarter results, jumped 4.8% after its second-quarter earnings rose 83%, citing a recovery in North American operations and an 11% sequential rise in international revenue.
Toy maker Hasbro gained 1% after its second-quarter profit surprisingly rose 11% on lower costs, though revenue fell more than anticipated as sales decreased in movie-related toys.
Overseas, European indexes advanced modestly, boosted by gains from mergers and acquisitions. American depositary shares of International Power PLC surged 13% after disclosing talks with GDF Suez, while British engineering firm Tomkins PLC rallied on a 2.9 billion pound ($4.5 billion) bid from Onex and a Canadian pension fund.
The euro strengthened, trading recently around $1.2966, up from $1.2927 late Friday in New York. However, weighing on sentiment in Europe, the International Monetary Fund and the European Union withdrew EUR20 billion ($26 billion) of financing from Hungary, sending stocks and the forint sliding over 2%. Hungary will resume talks with the International Monetary Fund in September, a Hungarian cabinet minister said Monday.
Moody’s Investor Services on Monday cut Ireland’s credit rating, citing a rising debt burden, a weak growth outlook and the high cost of rebuilding a shattered banking system, though the outlook is now stable and the move was not seen as a major surprise.
Among stocks in focus, Boeing gained 1.7% after announcing an order for 30 of its 777 jets at the Farnborough International Airshow, saying the market for commercial aircraft is coming back.
BP PLC slid 3.6% after the oil giant said tests on a well cap that has halted the flow of oil into the Gulf of Mexico for several days continue to behave as expected, but U.S. authorities raised concerns that hydrocarbons may be leaking from the sea bed near the Macondo well.
Demand for Treasurys declined, with the 10-year note down to push yield up to 2.95%. Crude-oil prices climbed, while gold futures declined.
Still to come, the National Association of Home Builders’ July sentiment index will be released at 10 a.m., EDT.
By Kristina Peterson
Tags: Dow Jones Industrial, economy recovery, euro zone, european economy, european union, IMF, investors, money, Nasdaq composite, us stocks
vegas casino free plays…
foxwoods casino employment…
2005 comment december leave soma…
buy soma with cod…
mobile games verizon pantech pn-215 casino…
coupon codes for slots of vegas…
new casinos with free cash no deposit for may 09…
new casinos with free cash no deposit for may 09…
bingo star download…
grand casino employment…
valtrex to treat cold sores…
valtrex treatment for cold sores…
tramadol with money order…
buy cheap tramadol 90…
1hour free play casinos…
rtg secret no deposit codes…
tramadole solubility…
etodolac and tramadol…
tramadol ultram 50mg…
buy dreampharmaceuticals from online tramadol…
new tramadol ultram…
new tramadol ultram…
french lick casino bonus play…
play top online casino games…
casino online uruguay…
online casino mit auszahlung…
7 sultans no deposit promotion code…
free hour casinos…
online casino mac os…
new no deposit…
tramadol hcl used recreationally…
canine pain medication tramadol 50 mg…
free instant flash casinos…
jack pot party games…
mystic lake casino jobs…
freenew bingo…
homemade cialis…
viagra australia prescription…
valtrex treatment of cold sores…
valtrex generic dosage…
valtrex in children…
valtrex 1 tablet 2 times daily…
valtrex and zoloft…
valtrex dosage herpes labialis…
play free online games no deposits worldwide…
golden nugget vip…
soma vs flexeril…
soma vs flexeril…
$5 minimum deposit blackjack…
pokersite startmoney…
valtrex 500 mg caplet…
valtrex and transmission…
free online slots no download…
deposit internet casino…
online casino willkommensbonus ohne einzahlung…
free online bingo without registration…
discount generic viagra in england…
free viagra tablet in india…
redeem cupon viplounge…
online casino roulette tricks…
casinofree…
new no deposit casino…
online casino allows usa with free play…
online casino allows usa with free play…
new no deposit bonus casinos…
isle of capri casino resort biloxi…
play roulette online no sighn up…
play roulette online no sighn up…
online win real money instant play no deposit or downloading required…
brand new new no deposit casinos…
online prescription soma…
what is soma for…
order tramadol cheap…
tramadol cod overnight…
pachanga casino…
bet royal download…
tramadol $0.29 per pill…
tramadol contains…
new casinos 2010…
free bonus cupon…
casinofreeplay codes…
florida casinos…
viagra consequinses…
generic viagra sales from india…
casinobonus 2010…
southpoint hotel casino…
coupon promotion codes for bingo…
online bonus…
valtrex outbreak dosage…
valtrex genital herpes dose…
viagra free sample…
average does for viagra…