{"id":338221,"date":"2011-03-25T14:09:18","date_gmt":"2011-03-25T14:09:18","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/25\/teflon-market-keeps-climbing\/"},"modified":"2011-03-25T14:09:18","modified_gmt":"2011-03-25T14:09:18","slug":"teflon-market-keeps-climbing","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/25\/teflon-market-keeps-climbing\/","title":{"rendered":"&#8216;Teflon market&#8217; keeps climbing"},"content":{"rendered":"<p><div readability=\"96.1093969144\">    <!-- KEEP --><a href=\"http:\/\/money.cnn.com\/data\/markets\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/a26435eenasdaq.top_.png.png\" alt=\"945chart_ws_index_nasdaq.top.png\" 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>March 25, 2011: 10:09 AM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><\/p>\n<p>NEW YORK\u00a0(CNNMoney) &#8212; U.S. stocks continued their upward climb Friday, shrugging off geopolitical concerns and holding gains after a reading on fourth-quarter GDP and March consumer sentiment. <\/p>\n<p>In early trading, the Dow Jones industrial average (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=INDU&#038;source=story_quote_link\">INDU<\/a>) rose 31 points, or 0.3%; the S&#038;P 500 (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=SPX&#038;source=story_quote_link\">SPX<\/a>) index climbed 2.5 points, or 0.2%; and the Nasdaq (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=COMP&#038;source=story_quote_link\">COMP<\/a>) composite gained 9 points, or 0.3%.<\/p>\n<p>Tech stocks were among the biggest movers Friday morning. Shares of Oracle (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=ORCL&#038;source=story_quote_link\">ORCL<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/3057.html?source=story_f500_link\">Fortune 500<\/a>) were up 5% after the software company <a href=\"http:\/\/cnnmoneytech.tumblr.com\/post\/4069040468\/oracles-profit-soars-78\" target=\"new\" rel=\"noopener noreferrer\">reported results<\/a> late Thursday that were mostly in line with expectations. Dow component IBM (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=IBM&#038;source=story_quote_link\">IBM<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/225.html?source=story_f500_link\">Fortune 500<\/a>) was up 1% following Oracle&#8217;s results.<\/p>\n<p>Meanwhile Research in Motion (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=RIMM&#038;source=story_quote_link\">RIMM<\/a>) shares plunged 10%, after the BlackBerry maker gave weak first-quarter guidance late Thursday. <a href=\"http:\/\/money.cnn.com\/2011\/03\/24\/technology\/rimm_earnings\/index.htm\">RIMM&#8217;s earnings<\/a> were $1.78 per share, versus the $1.75 a share analysts had expected. <\/p>\n<p>Though unrest in the Middle East and Libya is spreading and Japan continues to deal with the effects of an earthquake, the market generally has trended higher this week.<\/p>\n<p>&#8220;This is a Teflon market,&#8221; said Mark Luschini, chief investment strategist at Janney Montgomery Scott. &#8220;It wants to go up, and it doesn&#8217;t seem to be stymied by much lately.&#8221;<\/p>\n<p>Mostly positive earnings news from the technology sector <a href=\"http:\/\/money.cnn.com\/2011\/03\/24\/markets\/markets_newyork\/index.htm\">boosted U.S. stocks<\/a> on Thursday.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/economy\/index.html\"><b>Economy:<\/b><\/a> Investors reacted little to the third and final reading of fourth-quarter U.S. GDP, which came in at 3.1%. The prior estimate had been for a 2.8% growth in the quarter.<\/p>\n<p>The University of Michigan consumer sentiment survey for March came in at a reading of 68.2, in line with economists&#8217; expectations of a reading of 68.0-68.2.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/companies\/\"><b>Companies<\/b><\/a><b>:<\/b> Electronics retailer Best Buy (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=BBY&#038;source=story_quote_link\">BBY<\/a>, <a href=\"http:\/\/money.cnn.com\/magazines\/fortune\/fortune500\/2010\/snapshots\/10034.html?source=story_f500_link\">Fortune 500<\/a>) was the worst performer on the S&#038;P 500, falling 3.5%, after Wall Street analysts downgraded the company following the company&#8217;s earnings report earlier this week.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/world_markets\/europe\/\"><b>World markets:<\/b><\/a> European stocks were mixed in midday trading. Britain&#8217;s FTSE 100 ticked up by 0.1%, while the DAX in Germany and France&#8217;s CAC 40 fell by 0.1%.<\/p>\n<p>Asian markets ended the session higher. The Shanghai Composite, the Hang Seng in Hong Kong and Japan&#8217;s Nikkei all gained about 1.1%.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/currencies\/index.html\"><b>Currencies<\/b><\/a><b> and <\/b><a href=\"http:\/\/money.cnn.com\/data\/commodities\/index.html\"><b>commodities:<\/b><\/a> The dollar rose against the euro, the Japanese yen and the British pound.<\/p>\n<p>Oil for May delivery fell $1, or 1%, to $104.57 a barrel. <\/p>\n<p>Gold futures for April delivery fell by $1.40, or less than 0.1%, to $1,433.50 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 3.40% from 3.39% late Thursday. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/03\/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\/03\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p>First Published: March 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\/03\/a26435eenasdaq.top_.png-150x150.png\" \/><\/p>\n<p>See the rest here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/FVtyy7Xhlc8\/index.htm\" title=\"'Teflon market' keeps climbing\" rel=\"noopener noreferrer\">&#8216;Teflon market&#8217; keeps climbing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Click the chart for more market data. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-338221","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&#039;Teflon market&#039; keeps climbing - 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\/03\/25\/teflon-market-keeps-climbing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"&#039;Teflon market&#039; 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