Dow having Best New Year opening since 2009, driven by Hewlett-Packard (NYSE:HPQ) and General Electric (NYSE:GE)
The Dow Jones Industrial Average Index jumped 308.41 points, to 13412.55, marking the best-ever start to a year. In percentage terms, the 2.35% rally was the best opening since 2009. The boost was seen after Congress entered into an agreement to avoid a bundle of automatic tax hikes and spending cuts known as the “fiscal cliff”. The deal ignited a relief advance in markets across the globe and sent investors out of havens such as Treasury bonds.
Each of the Dow 30 components kicked off the first business day of 2013 with a sharp rally, driven by last year’s biggest decliner Hewlett-Packard Company (NYSE:HPQ) on plans to sell non-performing assets and keep PC segment untouched.
General Electric Company (NYSE:GE) rallied as was one of the top beneficiaries of the tax deal. The stock, as of last close, traded 21.42% up from its 52 week low and was -7.09% behind its 52 week high. Its latest closing price was 5.59% above the SMA200 while the distance from SMA 50 and SMA 20 was +1.63% and +1.28% respectively. The stock has a 6-month performance of +4.10%.
The Coca-Cola Company (NYSE:KO) gained after decision to acquire Sacramento Coca-Cola Bottling Co., the sixth-largest independent bottler of Coca-Cola in the U.S., for an undisclosed sum.
The share price of KO, as of the latest close, was up 16.14% compared with the 52 week low and was -6.26% below the 52 week high. The stock’s latest closing price was up +0.86% from the average-price of 200 days while it kept its distance from the SMA 50 at +1.73% and +1.26% compared with the SMA 20. Its six-month period performance stands down at -2.51%
Energy giant Exxon Mobil Corporation(NYSE:XOM) advanced after commencement of operation in one of the world’s largest ethylene steam crackers in Singapore. Its latest closing price was 3.28% up from an average-price of 200 days while it maintained a distance from the SMA 50 at +0.22% and +0.91% compared with the SMA 20. The stock was up 16.48% from the 52 week low and was -4.71% below the 52 week high. It has shown an uptrend of 6.67% in the same period with a monthly performance of +0.65% and 3-month performance down -2.39%.
As of last close, Wal-Mart Stores, Inc.(NYSE:WMT) was 23.26% up from the 52 week low and was -10.28% below the 52 week high. Its latest closing price was +1.36% up from an average-price of 200 days while it kept its distance from the SMA 50 at -2.61% and -0.62% compared with the SMA 20. The 6-month performance of this stock stands at -3.32% with a fall of -5.65% in the last three months and +18.26% in the previous twelve months.
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