Reuters - Video

EDITION: U.S. | U.K. | IN

Top News

Stocks rally before France loses AAA

Tuesday, 20 Nov, 2012 - 02:05

Nov. 19 - Summary of business headlines: Wall Street jumps 2 percent as Washington backs away from the fiscal cliff, Wal-Mart moves up dividend with fiscal cliff in mind, Existing home sales and homebuilder optimism point to continued rebound, Intel CEO retiring; Oil nears $90. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL Wall Street bounces back with the best one-day gain in two months after stocks suffer for weeks. But Europe may take a hit on Tuesday, after France lost its AAA credit rating from Moody's after the U.S. closing bell. Nevertheless, the Dow settled at the high of the day, up more than 200 points. The S&P 500 rose 2 percent. The Nasdaq up 2.2 percent. Investors are betting lawmakers will be able to prevent the fiscal cliff. But some companies are not taking any chances. Wal-Mart is moving up its dividend to December from January, so shareholders can avoid getting hit with a higher bill next if dividend tax rates go up. By the way, shareholders include descendants of founder Sam Walton, who are some of the richest people in the world. The improving housing market also gave the stocks a bounce. Sales of previously owned home jumped a stronger than expected 2.1 percent in October and a survey of homebuilders shows renewed optimism, hitting a six-year high in November. Intel will soon see changes at the top. Chief Executive Paul Otellini will retire next year. His departure comes as the chip giant struggles with the changing marketplace. Its stronghold, PC chip, is fading, while the market for smartphones and tablets expands rapidly. Known for promoting from within, the current chief operating officer is considered a top contender, says portfolio manager Joshua Spencer of the T. Rowe Price Global Technology Fund. SOUNDBITE: JOSHUA SPENCER, PORTFOLIO MANAGER, T. ROWE PRICE GLOBAL TECHNOLOGY FUND (ENGLISH) SAYING: "In addition to being COO, he's in charge of Intel's manufacturing footprint. And it's really the one area that they've had dominance and has continued to extend their lead." The announcement was met with a muted response; shares only gained a few cents. Oil prices closed at one-month highs on political and economic optimism in the U.S. and violence in the Middle East. In Europe, Portugal passes a bailout review paving the way for the next 2.5 billion euro payout, but markets were focused on the U.S., giving European stocks their best day in 10 weeks.

Stocks rally before France loses AAA

Tuesday, 20 Nov, 2012 - 02:05

Top News »

Editors' Picks »

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, 16 Jul, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, 25 Jun, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, 02 Jun, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, 27 May, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, 08 May, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, 05 May, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, 08 Apr, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, 24 Mar, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, 17 Mar, 2014 - (7:38)

Oddly Enough »

Elephants 'lovin' polo tournament Elephants 'lovin' polo tournament

Thu, 28 Aug, 2014 - (1:31)

Triplet pandas celebrate a milestone Triplet pandas celebrate a milestone

Thu, 28 Aug, 2014 - (0:48)

Group shatters record for longest flower garland by a mile Group shatters record for longest flower...

Wed, 27 Aug, 2014 - (1:30)

Masked hero sweeps clean Masked hero sweeps clean

Tue, 26 Aug, 2014 - (1:10)

Right muddy mess at World Bog Snorkeling Championships Right muddy mess at World Bog Snorkeling...

Tue, 26 Aug, 2014 - (1:11)

Hello Kitty conquers space Hello Kitty conquers space

Mon, 25 Aug, 2014 - (1:11)

Japanese zoo welcomes red panda cub Japanese zoo welcomes red panda cub

Mon, 25 Aug, 2014 - (0:42)

Is it a plane? No, it's a hoverbike Is it a plane? No, it's a hoverbike

Fri, 22 Aug, 2014 - (2:40)

Fox kicks off "Simpsons" mega marathon Fox kicks off "Simpsons" mega marathon

Thu, 21 Aug, 2014 - (0:56)

Six-story tall duck floats into L.A. port Six-story tall duck floats into L.A. port

Thu, 21 Aug, 2014 - (1:02)

Young artist paints surreal illusions on bodies Young artist paints surreal illusions on...

Thu, 21 Aug, 2014 - (1:30)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)

Moving Pictures »

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, 11 Jul, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, 03 Jul, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, 20 Jun, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, 06 Jun, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, 30 May, 2014 - (1:37)