U.S. Stocks On the Rise
U.S. stocks went up after a number of companies including Johnson&Johnson and Dupont reported strong earnings.
The DowJones industrial average had its best showing of the year so far.
The question is — is this a dead cat bounce or can it sustain?” says Tim Heekin, director of trading at San Francisco investment bank Thomas Weisel Partners.
“My feeling is we are probably going to roll back down. I’m not sure I see the real impetus for the market to resume another up trend yet,” Heekin said.
Some analysts said the market’s gains appeared to be somewhat deceptive. Declining stocks outnumbered advancers by a slim margin on the New York Stock Exchange.
The trading volume was at 2.03 billion shares on the New York Stock Exchange.
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