Thebullishtrends: Stocks earned marginal gains on wednesday and the DOW indsutrials gaining for the the first time in five days. Stock indexes had extended opening gains after the institute for Supply Management reporting nonmanufacturing sectors of the U.S economy contracted at a slower pace during February, with its index bouncing to 49.3 in February from 44.6.
As per the Fed Beige Survey which was released on Wednesday afternoon the Federal Reserve confirming economic growth has slowed since the start of the year with two thirds of the 12 Fed regional bank districts. Technology stocks were largely gains with Yahoo Inc gaining more than 2 percent. As per the reports of Ambac bailout was back on the table had fueled a late-day rally tuesday, pulling U.S stocks indexes off earlier lows. Chevron Corp gained today more than 2.4% (88.79 +2.6, +2.4%).
Dow gained 41.19(+0.34%) closed at 12,254.99 points, NASDAQ gained 12.53(+0.55%) pointsand closed at 2,272.81 points. S&P gained 6.95(+0.52%) points and closed at 1,333.70 points.
