Thousands march on streets of Brussels demanding permanent ceasefire in Gaza    Impeached South Korean president charged with insurrection    Three children drown every day in India's wetlands, but mothers are fighting back    Saudi Film Commission Joins Asian Film Commissions Network (AFCNet)    Bird feathers found in engines of crashed Jeju Air jet    105th batch of King Faisal Air Academy students graduated    HADAF supports employment of 437,000 Saudis in private sector in 2024    Probe ordered into power outage in southern regions as electricity service fully restored to all consumers    'National History Lab' launched in Riyadh to preserve and innovate Saudi history    Saudi Permanent Representative Dr. Al-Tokhais presents credentials to UNESCO Chief    Education sector commercial records grow by 22% in 2024    Hans Zimmer delivers a spectacular musical night at Riyadh Season    Saudi Arabia to host regular World Economic Forum global meeting starting 2026    Trump shrugs off Elon Musk's criticism of AI announcement    Injured Djokovic booed off after quitting semi-final    Why do athletes earn such high incomes?    Julian Quinones' brace secures Al Qadsiah's 2-0 win over Al Orobah    Al Ittihad defeats Al Shabab 2-1 to stay in title race with Al Hilal    Tina Turner's lost Private Dancer song rediscovered    Comeback queens, blockbusters and Succession stars: The Oscar nominations previewed    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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Wall Street Closing
Published in Saudi Press Agency on 28 - 01 - 2009

Stocks gained Tuesday, rising for the third consecutive session, as investors welcomed some quarterly profit reports that were not as bad as had been expected.
Investors also welcomed Timothy Geithner's approval as U.S. Treasury secretary late Monday, raising confidence that the Obama administration's $825 billion economic stimulus package could win approval despite Republican opposition.
The Federal Reserve (Fed) began its two-day policy meeting on Tuesday, and the central bank is expected to keep short-term interest rates near zero.
The day's economic news was negative. More U.S. corporations on Tuesday announced significant job cuts, U.S. consumer confidence fell to another record low, and U.S. home prices fell by the biggest annual amount on record.
Light sweet crude oil for March delivery tumbled $4.15 to $41.58 a barrel on the New York Mercantile Exchange. The U.S. dollar gained versus the euro and fell versus the yen.
The Dow Jones industrial average rose 58.70, or 0.7 percent, to 8,174.73. American Express reported lower quarterly sales and profits, but investors were relieved that the results were not weaker. Shares gained 8 percent. Other Dow financial stocks rallied, including Citigroup and Bank of America.
DuPont reported a worse-than-expected quarterly loss and cut its 2009 profit forecast. Shares of the chemical giant were little changed. Verizon Communications reported higher quarterly sales and profits but said that growth in its businesses continued to slow. Its shares fell 6 percent.
The broader Standard & Poor's 500 index rose 9.14, or 1.1 percent, to 845.71.
The technology-heavy Nasdaq composite index rose 15.44, or 1 percent, to 1,504.90. Texas Instruments reported a smaller-than-expected drop in quarterly profit and announced job cuts. Its shares gained nearly 5 percent. Netflix reported higher quarterly revenue, and shares of the online movie-rental firm jumped 16 percent.
The New York Stock Exchange composite index rose 70.83 to 5,315.44. The American Stock Exchange composite index rose 11.18 to 1,399.56. And the Russell 2000 index rose 5.52 to 455.58.


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