Major US stock indexes closed higher today. The Dow Jones gained 0.8%, the S&P 500 gained 0.7% and the Nasdaq Composite gained 0.5%. For the full week the Dow Jones lost 0.7%, the S&P 500 lost 0.5% and the Nasdaq Composite lost 0.2%.
Wall Street benefited today from speculation in central bank stocks. Ben Bernanke indicated, in a letter sent to a US Congressional committee, that it is possible that the Fed will approve further measures to support the economy. According to rumors reported by the "Reuters" press agency, the ECB could also set a yield fluctuation band in its new government bond purchase programme.
Pharmaceuticals especially shined. Eli Lilly (US5324571083) closed up 3.4%. Solanezumab, an Alzheimer's drug, fell short of its primary objectives in two Phase III clinical trials but significantly slowed cognitive decline in patients with a moderate form of the disease. Watson Pharmaceuticals (US9426831031) earned the 6%. The pharmaceutical company has announced that the FDA (Food and Drug Administration) has approved its generic version of the anti-inflammatory Lidoderm. Bristol-Myers Squibb (US1101221083) earned 1.3%. BofA Merrill Lynch upgraded its rating on the pharmaceutical group's stock from "Neutral" to "Buy".
Salesforce.com (US79466L3024) Earned 1.2% The leader in on-demand customer relationship management (CRM) generated $0.42 earnings per share last quarter, excluding exceptional items. The consensus was $0.39 per share.
Autodesk (US0527691069) lost 15.6%. The world leader in software for the construction sector has published a quarterly report lower than analysts' expectations and provided a cautious outlook.
24 August 2012 Borsainside editorial staff 10:33 pm
24/08/2012 10.55 International Stock Exchanges – La Stampa
