Reuters - Video

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

Top News

Bulls unchained! Apple loses crown

Friday, January 25, 2013 - 01:53

Jan 25 - Summary of business headlines: The S&P 500 closed above 1,500 for the first time in more than five years as quarterly results from Procter & Gamble soothe worries; Apple loses spot as world's most valuable company. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

The S&P 500 is now less than 5 percent from setting lifetime highs as the earnings season gives the bulls a reason to hold the reigns. The Dow is up 11 out of 12 sessions, while the S&P 500 enjoys its longest winning streak in 8 years, even techs were higher. Blue chips gained 1.8 percent on the week and the Nasdaq half of one percent. Jim Awad of Plimsoll Mark is a believer in this bull market. SOUNDBITE: JIM AWAD, CHAIRMAN, PLIMSOLL MARK (ENGLISH) SAYING: "Because the U.S. economy is doing better than expected, profits look like they are going to grow, the consumer is doing fine, unemployment is coming down, there are very low returns on bonds and cash, most people are underinvested and stocks are reasonably valued - many of them with good dividends, so unless Washington mucks it up the line of least resistance - stocks are going to keep going up." Procter and Gamble easily beat quarterly forecasts and guided full-year sales and profit targets higher. The growth came from new products and better pricing. Shares of the world's largest household products maker up 4 percent... Shares of Halliburton, the world's second-largest oilfield services company, jumped 5 percent after global demand lifted earnings... Honeywell's fourth-quarter profit topped forecast and sales were up as well - leading to a small gain in that stock. Apple is in jeopardy of losing its stock market crown. Shares have tumbled almost 40 percent since a record peak last year on worries the best may be over. That weakness - handing old-school ExxonMobil back the title as the world's most valuable company. A small pullback on the homefront, sales of new homes dipped in the U.S. last month but full-year sales reached a three-year high. Finally, European stocks rallied on the back of firmer business sentiment numbers out of Germany.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Bulls unchained! Apple loses crown

Friday, January 25, 2013 - 01:53

Editors' Picks »

Most Popular »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

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

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

Images of August Images of August

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

"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)

Oddly Enough »

Skateboards get rock star makeovers Skateboards get rock star makeovers

Thu, 23 Oct, 2014 - (1:28)

Giant rubber duck on show in Shanghai Giant rubber duck on show in Shanghai

Thu, 23 Oct, 2014 - (1:06)

Black bear cub goes Sunday shopping Black bear cub goes Sunday shopping

Thu, 23 Oct, 2014 - (0:27)

Christie's opens new Shanghai office Christie's opens new Shanghai office

Wed, 22 Oct, 2014 - (1:13)

White lion cubs unveiled to the public White lion cubs unveiled to the public

Tue, 21 Oct, 2014 - (1:01)

Ebola Halloween getup stirs controversy Ebola Halloween getup stirs controversy

Tue, 21 Oct, 2014 - (1:14)

Cuddly Ebola toy almost wiped out Cuddly Ebola toy almost wiped out

Mon, 20 Oct, 2014 - (0:34)

New MoMA exhibit cut out for Matisse New MoMA exhibit cut out for Matisse

Thu, 16 Oct, 2014 - (1:28)

London's Frieze art fair tests your senses London's Frieze art fair tests your senses

Thu, 16 Oct, 2014 - (1:28)

Paris streets become gallery for Plato-inspired sculptures Paris streets become gallery for...

Wed, 15 Oct, 2014 - (1:21)

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)