LONDON (SHARECAST) - Strong domestic data outweighed continuing concerns over European debts as the S&P 500 neared levels not seen since 2007.
The S&P/Case-Shiller index of property values in 20 U.S. cities increased 1.2% in July compared to the same month last year, that’s the biggest rise in nearly two years and beat expectations of a 1% rise.
Consumer confidence also appears to be on the rise as the Conference Board’s index rose to 70.3 in September from a reading of 61.3 in August.
In Europe everyone is waiting for a formal request for aid by the Spanish government to the European Central Bank.
The debt-strapped country’s Deputy Prime Minister, Soraya Saenz de Santamaria, said today the administration needed to know the amount of Spanish debt the ECB was prepared to buy before requesting intervention in the secondary debt market.
To many this sounded like a bargaining tactic, with Spain’s politicians anxious over the extent of budget cuts they would be required to make in exchange for debt purchases.
COMPANIES
Carnival Corporation which owned the Costa Concordia which ran aground in Italy earlier this year, rose 2% on better than expected revenues.
The gaming giants, Las Vegas Sands and Wynn Resorts, also had a good morning after analysts at JPMorgan said income from their Macau interests would boost full year numbers.
One company not enjoying Tuesday was Caterpillar which said growth in construction markets would be weak until 2015, forcing it to reduce profit forecasts.
BS
S&P 500 - Risers
Safeway Inc. (SWY) $16.40 +2.89%
Carnival Corp. (CCL) $37.87 +2.35%
DIRECTV (DTV) $53.88 +2.24%
Akamai Technologies Inc. (AKAM) $39.21 +2.22%
CH Robinson Worldwide Inc (CHRW) $59.86 +2.20%
Alexion Pharmaceuticals Inc. (ALXN) $115.34 +2.14%
W.W. Grainger Inc. (GWW) $207.08 +1.75%
R.R. Donnelley & Sons Co. (RRD) $11.20 +1.54%
Priceline.Com Inc. (PCLN) $640.35 +1.45%
Home Depot Inc. (HD) $60.25 +1.45%
S&P 500 - Fallers
Nabors Industries Ltd. (NBR) $14.35 -4.84%
Advanced Micro Devices Inc. (AMD) $3.30 -4.62%
GameStop Corp. (GME) $21.24 -4.02%
Electronic Arts Inc. (EA) $12.78 -3.95%
DeVry Inc. (DV) $22.32 -3.73%
Staples Inc. (SPLS) $11.90 -3.60%
Red Hat Inc. (RHT) $55.50 -3.55%
Cliffs Natural Resources Inc. (CLF) $39.35 -3.48%
Apollo Group Inc. (APOL) $28.25 -3.45%
Rockwell Automation Inc. (ROK) $69.92 -3.35%
Dow Jones I.A - Risers
Home Depot Inc. (HD) $60.25 +1.45%
General Electric Co. (GE) $22.56 +0.89%
Pfizer Inc. (PFE) $24.95 +0.81%
Travelers Company Inc. (TRV) $68.87 +0.66%
Johnson & Johnson (JNJ) $69.35 +0.51%
Walt Disney Co. (DIS) $53.12 +0.38%
American Express Co. (AXP) $57.82 +0.26%
International Business Machines Corp. (IBM) $205.75 +0.22%
Verizon Communications Inc. (VZ) $45.74 +0.14%
Kraft Foods Inc. (KFT) $41.66 +0.07%
Dow Jones I.A - Fallers
Caterpillar Inc. (CAT) $88.21 -2.93%
Hewlett-Packard Co. (HPQ) $16.84 -2.12%
Alcoa Inc. (AA) $8.94 -1.32%
United Technologies Corp. (UTX) $79.05 -1.22%
JP Morgan Chase & Co. (JPM) $40.91 -0.78%
Chevron Corp. (CVX) $116.93 -0.72%
E.I. du Pont de Nemours and Co. (DD) $50.88 -0.60%
3M Co. (MMM) $93.18 -0.59%
Bank of America Corp. (BAC) $9.06 -0.49%
Coca-Cola Co. (KO) $37.94 -0.49%
Nasdaq 100 - Risers
Research in Motion Ltd. (RIMM) $6.51 +3.25%
DIRECTV (DTV) $53.88 +2.24%
Akamai Technologies Inc. (AKAM) $39.21 +2.22%
CH Robinson Worldwide Inc (CHRW) $59.86 +2.20%
Alexion Pharmaceuticals Inc. (ALXN) $115.34 +2.14%
Priceline.Com Inc. (PCLN) $640.35 +1.45%
Seagate Technology Plc (STX) $31.79 +1.37%
Amgen Inc. (AMGN) $84.00 +1.31%
Google Inc. (GOOG) $758.33 +1.19%
Cerner Corp. (CERN) $75.20 +1.12%
Nasdaq 100 - Fallers
Electronic Arts Inc. (EA) $12.78 -3.95%
Staples Inc. (SPLS) $11.90 -3.60%
Apollo Group Inc. (APOL) $28.25 -3.45%
Netflix Inc. (NFLX) $54.65 -3.09%
Vertex Pharmaceuticals Inc. (VRTX) $56.95 -3.01%
Green Mountain Coffee Roasters Inc. (GMCR) $25.18 -2.63%
Paychex Inc. (PAYX) $33.58 -2.33%
Activision Blizzard Inc. (ATVI) $11.81 -2.07%
Garmin Ltd. (GRMN) $41.23 -2.04%
Avago Technologies Ltd. (AVGO) $33.90 -2.02%
LONDON (SHARECAST) - Strong domestic data outweighed continuing concerns over European debts as the S&P 500 neared levels not seen since 2007.
