Wall St, 1 Year After Crisis

One year ago today, Wall Street skid to a 12-year low in the wake of the financial crisis. The Dow has rallied almost 62 percent since then.

“This past year was actually one of the most powerful rallies in history of Wall St” said Shayne Heffernan, of Ebeling Heffernan.

The S&P Financial sector was the top percentage loser among sectors, down 0.5 percent one day after closing at a more than 7-week high. JPMorgan Chase & Co (JPM) was a top percentage loser on the Dow, off nearly 1 percent at $42.24.

The Dow Jones industrial average .DJI rose 7.33 points, or 0.07 percent, at 10,560.30. The Standard & Poor’s 500 Index .SPX dipped 0.74 points, or 0.06 percent, at 1,137.83. The Nasdaq Composite Index was up 2.11 points, or 0.09 percent, at 2,334.31.

Airline and transport stocks rose after UAL Corp’s (UAUA) chief financial officer said its United Airlines was clearly seeing signs of recovery. The stock gained 8 percent to $18.88, while the ARCA Airline index .XAL added 2.5 percent.

Kroger Co (KR) fell 1.7 percent to $22.52 after the top U.S. grocery chain said fiscal-year earnings could miss expectations as it posted higher-than-expected quarterly profit.

Late Monday, Texas Instruments Inc (TXN) raised its quarterly earnings and revenue forecast but said it was struggling to fill orders due to increased demand for chips. The stock fell 2.7 percent to $24.02.

Shayne Heffernan www.livetradingnews.com

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