{"id":282069,"date":"2011-02-25T14:58:47","date_gmt":"2011-02-25T14:58:47","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/"},"modified":"2011-02-25T14:58:47","modified_gmt":"2011-02-25T14:58:47","slug":"stocks-edge-higher-as-oil-prices-ease","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/","title":{"rendered":"Stocks edge higher as oil prices ease"},"content":{"rendered":"<p><div readability=\"111.88033938\">    <!-- KEEP --><a href=\"http:\/\/money.cnn.com\/markets\/data\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\" alt=\"stock markets\" width=\"475\" height=\"280\" border=\"0\" class=\"cnnstoryImageFull\" \/><\/a><span><b>Click the chart for more market data.<\/b><\/span><span id=\"fb-recommend\"\/><br \/>\n<span>By CNNMoney staff<\/span><span>February 25, 2011: 9:58 AM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK\u00a0(CNNMoney) &#8212; U.S. stocks edged higher at Friday&#8217;s open, as oil prices backed off its highs and investors mulled over the latest reading on U.S. economic growth. <\/p>\n<p>The Dow Jones industrial average (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=INDU&#038;source=story_quote_link\">INDU<\/a>) rose 41 points, or 0.4%; the S&#038;P 500 (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=SPX&#038;source=story_quote_link\">SPX<\/a>) was up 7.7 points, or 0.6%; and Nasdaq Composite (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=COMP&#038;source=story_quote_link\">COMP<\/a>) rose 23 points, or 0.9%. <\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>The Dow was led higher by shares of Boeing (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=BA&#038;source=story_quote_link\">BA<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/59.html?source=story_f500_link\">Fortune 500<\/a>), which rose 4% after the Defense Department awarded the aerospace giant a <a href=\"http:\/\/money.cnn.com\/2011\/02\/24\/news\/economy\/pentagon_tanker_contract\/index.htm\">$30 billion tanker contract<\/a>.<\/p>\n<p>&#8220;You might get a little bit of a relief rally, because oil prices are hovering around the $96 to $97 [per barrel] range,&#8221; said Peter Cardillo, chief market economist for Avalon Partners. &#8220;We&#8217;re looking at stable commodity prices.&#8221;<\/p>\n<p>Today&#8217;s gains comes after the Dow posted losses for three consecutive sessions, losing 285 points this week, or 2.5%. Monday and Tuesday&#8217;s plunges were the first back-to-back triple-digit declines since June. <\/p>\n<p>&#8220;We&#8217;ve seen a pullback in oil prices and there seems to be a direct correlation in the last couple days between stock prices and oil prices,&#8221; said Mark Luschini, chief investment strategist for Janney Montgomery Scott. <\/p>\n<p>On Thursday, <a href=\"http:\/\/money.cnn.com\/2011\/02\/24\/markets\/markets_newyork\/index.htm\">stocks rebounded<\/a> from afternoon lows to finish with small losses, as oil prices retreated from <a href=\"http:\/\/money.cnn.com\/2011\/02\/24\/markets\/oil\/index.htm\">two-year highs above $100 a barrel<\/a>.<\/p>\n<p>All three major indexes are still on track for their worst week since August. Despite the pullback, stocks are still higher for the month of February and the year. <\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/economy\/index.html\"><b>Economy:<\/b><\/a> The U.S. Bureau of Economic Analysis reported the real gross domestic product increased at an annual rate of 2.8% in the fourth quarter. This is a revision from a preliminary report.<\/p>\n<p>The GDP revision was much less than 3.3% increase economists forecasted, according to a consensus surveyed by Briefing.com.<\/p>\n<p>A final read on February&#8217;s University of Michigan consumer sentiment survey also is on the docket. The index is expected to remain unchanged at 75.1.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/companies\/\"><b>Companies<\/b><\/a>: JC Penney (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=JCP&#038;source=story_quote_link\">JCP<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/2284.html?source=story_f500_link\">Fortune 500<\/a>) reported a 30% surge in quarterly earnings, to $1.09 per share. The retailer beat analysts&#8217; forecast, who were expecting the department store chain to earn $1.08 a share. The company attributed the increase to the launch of &#8220;exclusive brands,&#8221; like Liz Claiborne (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=LIZ&#038;source=story_quote_link\">LIZ<\/a>).<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/world_markets\/europe\/\"><b>World markets:<\/b><\/a> European stocks rose in morning trading. Britain&#8217;s FTSE 100 edged higher by 1%, the DAX in Germany ticked up 0.6% and France&#8217;s CAC 40 gained 1.5%.<\/p>\n<p>Asian markets ended the session mostly higher. The Shanghai Composite was flat, while the Hang Seng in Hong Kong rose 1.8% and Japan&#8217;s Nikkei added 0.7%.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/currencies\/index.html\"><b>Currencies<\/b><\/a><b> and <a href=\"http:\/\/money.cnn.com\/data\/commodities\/index.html\">commodities:<\/a><\/b> The dollar gained strength against the euro and the British pound but slipped against the Japanese yen.<\/p>\n<p>Oil for April delivery fell 16 cents, or 0.2%, to $97.08 a barrel. <\/p>\n<p>Motorists are feeling the spike. The nationwide <a href=\"http:\/\/money.cnn.com\/2011\/02\/25\/news\/economy\/gasoline_prices\/index.htm\">average price for gasoline<\/a> rose nearly 6 cents overnight, according to AAA. This means that prices have jumped nearly 12 cents this week.<\/p>\n<p>Gold futures for April delivery dipped $10.20, or about 0.8%, to $1,405.60 an ounce. <\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/bonds\/index.html\"><b>Bonds<\/b><\/a><b>:<\/b> The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.46% from 3.42% late Thursday. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/02\/25\/markets\/markets_newyork\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><\/p>\n<p>First Published: February 25, 2011: 9:45 AM ET<\/p>\n<p><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_-150x150.png\" \/><\/p>\n<p>Read the rest here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/NTTu9OALiwQ\/index.htm\" title=\"Stocks edge higher as oil prices ease\" rel=\"noopener noreferrer\">Stocks edge higher as oil prices ease<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Click the chart for more market data. By CNNMoney staff February 25, 2011: 9:58 AM ET NEW YORK\u00a0(CNNMoney) &#8212; U.S. stocks edged higher at Friday&#8217;s open, as oil prices backed off its highs and investors mulled over the latest reading on U.S<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-282069","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stocks edge higher as oil prices ease - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stocks edge higher as oil prices ease - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click the chart for more market data. By CNNMoney staff February 25, 2011: 9:58 AM ET NEW YORK\u00a0(CNNMoney) -- U.S. stocks edged higher at Friday&#039;s open, as oil prices backed off its highs and investors mulled over the latest reading on U.S\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Stocks edge higher as oil prices ease\",\"datePublished\":\"2011-02-25T14:58:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\"},\"wordCount\":531,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\",\"name\":\"Stocks edge higher as oil prices ease - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\",\"datePublished\":\"2011-02-25T14:58:47+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/#primaryimage\",\"url\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\",\"contentUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/24320532x_sp500.top_.png\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stocks edge higher as oil prices ease - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/02\/25\/stocks-edge-higher-as-oil-prices-ease\/","twitter_card":"summary_large_image","twitter_title":"Stocks edge higher as oil prices ease - Ghanamma.com","twitter_description":"Click the chart for more market data. 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